The wrap
- S&P 500 7,714.08 -1.17%
- Nasdaq-100 29,969 -1.96%
- FTSE 100 10,650 -0.06%
- S&P 500 ETF $769.48 -1.10%
- Gold ETF $376.03 -1.48%
- Gold $4,111.81 -1.27%
- GBP/USD 1.3167 -0.32%
- Bitcoin $81,734 -1.72%
- Ethereum $2,428.94 -3.01%
The S&P 500 closed down 1.17% at 7,714.08 on Wednesday, and the Nasdaq-100 fell 1.96% to 29,969 over the same session. The S&P 500 ETF finished 1.10% lower at $769.48. Oracle was the heaviest faller, down 9.33% to $129.85 on Wednesday. Strategy (MicroStrategy) dropped 5.91% to $143.19, and AMD lost 5.82% to $570.30. According to CNBC, traders were piling into bubble puts on CoreWeave as neocloud stocks plunged. In London, the FTSE 100 closed down 0.06% at 10,650 on Tuesday.
UnitedHealth led the gainers, rising 4.15% to $393.43 on Wednesday. Eli Lilly added 3.86% to $1,211.52, and Walmart climbed 3.36% to $116.06. According to CNBC, Berkshire Hathaway is heading for its 10th consecutive winning day.
Bitcoin is down 1.72% at $81,734 in the past 24 hours, and Ethereum has fallen 3.01% to $2,428.94 over the same period. The crypto Fear and Greed index stands at 62, in the Greed range. Gold closed down 1.27% at $4,111.81 on Wednesday, and the gold ETF slipped 1.48% to $376.03. Oil ran the other way, with WTI crude closing up 1.02% at $95.10 on Wednesday.
The rest of today's wrap
US consumer prices rose to 3.74% in September, up from 3.4% a month earlier, while core CPI edged up to 2.56% from 2.45%. UK inflation reached 3.1% in August, up from 2.9%. According to MarketWatch, rate-hike odds are rising, and bond yields and higher inflation have left the Fed trapped in a rate-hike dilemma.
The Fed funds effective rate sits at 3.88% against a target range of 3.75–4.00%. The US 2-year Treasury yield is at 4.79% and the 10-year at 5.21%, down from 5.24%. The Bank of England Bank Rate is 3.75%. US M2 money supply reached $23,342.8bn in August, up 5.66% on a year earlier.
Thirty assets currently carry an Uptrend score, against ten with a Downtrend score. The next market-moving dates are the UK CPI release on 21 October, the Federal Reserve decision on 28 October, the Bank of England decision on 5 November, and the US CPI release on 10 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.