Markets are heavy today with a rush of data ahead with gross domestic product data from the Eurozone and Italy, the Spanish consumer price index and construction data from Japan coming arrive today.
Precious metals extended their gains in another session while oil joined them up more than 0.7%. Natural gas continues another session in the green, up more than 2.5%.
Bitcoin plunges in early trading below the $37,000 mark. The U.S. Dollar Index (DXY), which measures the strength of the dollar against a basket of six currencies, plunges early in trade.
Dutch multinational semiconductor maker NXP, Irish low-cost airline Ryan Air and industrial manufacturer Trane Technologies will release their results today. The stock market has risen 1.17% since the start of the year.
Stock market indices around the world
Top business and economic news of the day
- Apple on Friday announced the highest quarterly sales in its history.
- Core inflation in Japan was weaker than expected: Published by the Bank of Japan, core inflation increased by 0.1% in October 2021.
The markets today
- Shares: Most Asian stock markets are in the green following signals from Wall Street while all European indices are stuck in the red as risk-averse investors remain jittery. The FTSE Emerging Index, a broad barometer of developing country stocks, rose around 1.09% in US dollar terms.
- Oil: Oil prices up 0.3% while natural gas gains 2.3%.
- Gold: Gold and silver are trading in the green today, both trading flat to high.
- Forex: The US Dollar retreats along with yields, risk-on mood to drive markets as US weekly jobless claims are set to be released today.
- Crypto: Bitcoin plunges 2.5% today to $36,994.
What to pay attention to today
- Eurozone gross domestic product expected to be weak quarter-on-quarter
- Construction orders in Japan recorded 4.8%, more than half of the estimated 10.1%
- The Spanish inflation rate should be high
- Infrastructure output in India could be higher than previously reported
- Germany’s inflation rate is estimated at 5.3%, higher than the last report of 4.4%
- Italy’s gross domestic product looks weak
- Other Earnings: Other earnings releases expected today include Ryan Air, NXP, Trane Technologies, NVR, Komatsu and many smaller stocks like Performance Shipping.
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The difference between trading assets and CFDs
The main difference between trading CFDs and trading assets, such as commodities and stocks, is that you do not own the underlying asset when trading a CFD.
You can always profit if the market moves in your favor or suffer a loss if it moves against you. However, with traditional trading, you enter into a contract to exchange legal ownership of individual stocks or commodities for cash, and you own them until you sell them again.
CFDs are leveraged products, which means that you only have to deposit a percentage of the total value of the CFD transaction 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 shares, for example.
CFDs attract overnight costs to hold trades (unless you are using 1-1 leverage), which makes them more suitable for short-term trading opportunities. Stocks and commodities are more normally bought and held longer. You might also pay a commission or brokerage fee when buying and selling assets directly and you would need a place to store them securely.
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