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Business News: Chip shortage to ease in 2022, US jobs pick up

Key Points

Top business and economic news

According to car maker, General motors, the semiconductor shortage will ease in the second half of 2022. In a letter to shareholders, GM’s CEO Mary Barra said:

“With an improving outlook for semiconductors in the U.S. and China, we expect our 2022 results will remain strong. In fact, we expect our EBIT-adjusted earnings to remain at or near record levels in the range of $13 billion—$15 billion, all while investing more year over year in our growth businesses like Cruise, BrightDrop and our rapidly accelerating portfolio of electric vehicles.”

Markets Today

  • Stocks: S&P Futures fell today due to data from the US Labour department showed an increase in job growth.
  • Oil: Oil prices were up today, with Brent crude at over $90 a barrel, as investors remained concerned over geopolitical issues.
  • Gold: Gold prices were up today due to a weakening with the US dollar.
  • Forex: US dollar weakened today as the markets awaited US job growth data.
  • Crypto: Bitcoin was up by over 2% and Ethereum was up almost 7% today in afternoon trading.

What to watch next week

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NASDAQ neon sign in Times Square, New York, Photo: Alamy

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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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