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US mid-day: Traders stay busy before holiday, Nasdaq rallies

By Joseph Toppe

16:09, 30 December 2021

Stock brokers at work in an exchange
Stock brokers at work at the NYSE - Photo: Shutterstock

After Wall Street ran mixed during yesterday’s session, the major US indices are moving up together on Thursday.

Halfway through the session, the Dow Jones Industrial Average is around 0.12% higher, the S&P 500 is up near 0.18%, while the Nasdaq Composite rose approximately 0.49% after finishing in the red yesterday.

During trading on Wednesday, the S&P went up 0.1% to a new high, the Dow jumped 90.42 points, while the Nasdaq dipped 0.1% just before the bell.

Winners and losers: Royal Caribbean updates

Cases of Covid-19 in the US have reached an all-time daily high. The latest data from Johns Hopkins University of Medicine shows more than 265,000 new cases each day, with the highly contagious Omicron variant the likely culprit for the uptick in patients.

As cases continue to spike around the world, shares of Carnival are up roughly 2.28%, while Norwegian Cruise Line is up near 2.16%.

Shares of Royal Caribbean are almost 1.5% in the green after the company issued a press release on Thursday detailing the pandemic’s impact on the cruise line and subsequent influence throughout the industry. According to the release, “Since cruising restarted in the US in June 2021, the Royal Caribbean Group has carried 1.1 million guests with 1,745 people testing positive – a positivity rate of 0.02%.”

In other travel stock, shares of American Airlines are near 1.44% higher, Delta Airlines is around 1.30% better, while Southwest Airlines is roughly 2.09% in the green and United Airlines is almost 1.60% in positive territory.

Vaccine makers Pfizer are approximately 0.78% better, Moderna is back in the red near 0.77% and Johnson & Johnson is higher by almost 0.50%.

TSLA

239.25 Price
-4.530% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.14

GME

25.06 Price
-4.370% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.14

NVDA

118.03 Price
-3.230% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.11

COIN

256.98 Price
+8.980% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.51

In the auto sector, shares of General Motors are up around 2.31%, Ford is up around 0.90%, and Toyota is up near 0.60%.

Meanwhile, shares for Tesla are roughly 0.28% better after financial filings published Tuesday revealed CEO Elon Musk sold another 934,090 shares, representing approximately $1.02bn of the Tesla chief’s stake in the electric car builder.

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Oil: Crude turns higher

Oil futures are up with West Texas Intermediate crude for February delivery surging 24 cents, or 0.4%, higher to reach $76.83 a barrel on the New York Mercantile Exchange, while February Brent crude tacked on 20 cents, or 0.3%, at $79.41 a barrel on ICE Futures Europe.

In energy stock, shares of Exxon Mobil are down around 0.21% in the red, while Chevron has slipped approximately 0.36%.

Gold: Metals mixed mid-week

Gold futures are trading at $2.40, or 0.1%, to reach $1,803.40 an ounce, after declining 0.3% on Wednesday, while March silver was nearly unchanged at $22.87 an ounce, following a 1.1% dip yesterday.

Forex: euro holds position on US dollar

On Thursday, one US dollar equals $1.28 of the Canadian dollar, $0.88 of the euro, $0.91 of the Swiss Franc, and $0.74 of the Pound sterling.

The yield on the benchmark 10-year Treasury note increased to 1.543% from 1.542% Wednesday.

Read more: Tesla's EV revolution: Where will the TSLA stock price be in five years? 

Markets in this article

AAL
American Airlines Group Inc (Extended Hours)
10.64 USD
-0.08 -0.750%
AAL
American Airlines Group Inc (Extended Hours)
10.64 USD
-0.08 -0.750%
CCL
Carnival Corp (Extended Hours)
18.49 USD
0.09 +0.490%
CVX
Chevron
159.23 USD
-2.83 -1.750%
CVX
Chevron
159.23 USD
-2.83 -1.750%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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