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Daily market wrap ·

Meta lifts a softer Monday as Wall Street slips and crypto cools

Meta rose 3.4% on Monday as US indices eased, bitcoin slipped and the latest US and UK inflation readings came in close to forecasts.

386 words · written at 21:01 BST after the US close · 8 headlines referenced

The wrap

Wall Street drifted lower on Monday. The S&P 500 closed down 0.10% at 7,803.99, and the Nasdaq-100 fell 0.71% to 30,664. Meta was the standout gainer, climbing 3.38% to $742.93 on the day.

MarketWatch reported that Meta is back on the AI leaderboard with its new family of Wonder models, although the outlet's headline does not tie that news directly to the share price move. Coca-Cola added 1.85% and ExxonMobil gained 1.72%. The S&P 500 ETF closed down 0.09% at $777.89. In London, the FTSE 100 had closed up 1.06% at 10,552 on Friday.

Crypto markets lost ground in the past 24 hours. Bitcoin fell 1.05% to $82,731, and Ethereum slipped 0.64% to $2,517.67. Sui led the losers with a 4.41% decline, followed by Cardano at down 4.13% and Avalanche at down 3.61%. The crypto Fear and Greed index stands at 69, which sits in the Greed range. CoinDesk reported that Tom Lee sees a $2 trillion wealth transfer fuelling crypto demand as Bitmine buys more ether.

The rest of today's wrap

Gold closed down 0.58% at $4,166.70 on Monday, and the gold ETF closed down 0.64% at $382.10. Oil moved the other way. WTI crude closed up 2.11% at $93.79 on Monday, though none of the headlines in the data explain that move. Across the trend scores, 30 assets carry an Uptrend label, 17 sit in the mixed group and 7 are in a Downtrend. CNBC reported that Katie Stockton says retail stocks could be primed for a counter-trend rally.

US inflation edged higher in August. CPI rose to 3.4% from 3.36% in July, while core CPI eased to 2.45% from 2.48%. UK CPI climbed to 3.1% from 2.9%. US M2 money supply reached $23,342.8bn, up 5.66% on a year earlier.

The Fed funds effective rate sits at 3.88%, inside its 3.75–4.00% target range, and the Bank of England's Bank Rate stands at 3.75%. On 9 October the US 2-year Treasury yield was 4.8% and the 10-year was 5.24%, up from 5.22%. Real policy rates work out at 0.48% in the US and 0.65% in the UK.

The next inflation print is the US CPI release on 14 October, followed by the UK CPI release on 21 October. The Federal Reserve announces its rate decision on 28 October, and the Bank of England follows with its decision on 5 November.

Written by AI (Claude, claude-haiku-5-5) from the market data on this site at the time shown, and checked against that data before publishing. Prices at the time of writing; they will have moved since. Educational only, not financial advice.

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