The major US gauges are trading in the green on the first day of December as traders shrug off fears of the Omicron variant.
Halfway through the session on Wednesday, the Dow Jones Industrial Average was up 406 points, or 1.2%, while the Nasdaq Composite jumped 1.6% and the S&P 500 followed closely with a 1.5% pop.
The Dow was up more than 500 points at session high.
Following yesterday’s trading, the Dow Jones Industrial Average fell 652.22 points to 34,483.72, the S&P 500 lost 1.9% to 4,567.00, while the Nasdaq Composite sank nearly 1.6% to 15,537.69.
Winners and losers: Moderna continues fall
Following a recent hike in stock prices, shares for Moderna are continuing their fall from yesterday’s session, slipping 8.5%.
In retail and apparel stocks, shares for the Gap and Ralph Lauren are both better than 3%, while shares for PVH are closing in on a 4% gain.
Shares of GlobalFoundries are down 2.48% after rising in earlier trading. The semi-conductor fabricator recently reported a 56% spike in third-quarter revenue.
Oil: Crude spikes higher
Oil prices are up again on Wednesday, following yesterday’s 5% drop off.
West Texas Intermediate crude for January delivery went up $2.47, or 3.7%, to $68.65 a barrel. On Tuesday, the contract slumped 5.4% on the New York Mercantile.
February Brent crude, the global benchmark, increased $2.70, or 3.9%, to $71.93 a barrel on ICE Futures Europe, following a loss of nearly 5.5% Tuesday.
Shares of Occidental Petroleum and Baker Hughes are both 3% higher.
Gold: Gold up, silver down
Gold futures are better on Wednesday, following losses in the previous session.
The most active February gold contract was trading $15, or 0.8%, higher at $1,791.50 an ounce, following a 0.5% dip yesterday.
In other metals, silver futures extended their declines from Tuesday, as the March silver contract is 10 cents lower, or 0.4%, to $22.715 an ounce.
Crypto: Monero stays in the red
Digital assets have finished recent trading sessions mixed. On Wednesday, Monero remains the lone cryptocurrency in the red.
Bitcoin is up 2.28%, Ethereum is up 1.49%, while LiteCoin is 2.22% better and Monero is down 1.50%.
Forex: US dollar stronger than Yen
On Wednesday, one US dollar equals 1.28 of the Canadian dollar, 112.85 of the Japanese yen, 0.88 of the euro, and 0.75 of the pound sterling.
The ICE US Dollar Index, a measure of the currency against a half-dozen other monetary units, was down 0.2% at 95.853, while the 10-year Treasury note yields are up around 1.48%, from 1.440% on Tuesday at 3 pm EDT (UTC-5).
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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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