The wrap
- S&P 500 7,659.44 -1.09%
- Nasdaq-100 29,188 -2.50%
- FTSE 100 10,650 -0.06%
- S&P 500 ETF $763.25 -1.11%
- Gold ETF $382.01 -0.18%
- Gold $4,144.70 -0.32%
- GBP/USD 1.3329 +0.42%
- Bitcoin $80,842 -0.86%
- Ethereum $2,336.97 -3.28%
US shares closed lower on Friday. The S&P 500 fell 1.09% to 7,659.44, and the Nasdaq-100 dropped 2.50% to 29,188, the steepest fall among the indices in the data. The S&P 500 ETF closed down 1.11% at $763.25. According to CoinDesk, Wall Street freaked out on Friday, and its headline suggests that the VIX and bitcoin point to fear fading on Monday. MarketWatch framed the period ahead as a high-stakes showdown, with strong earnings colliding with rising borrowing costs.
Among the biggest movers, Strategy (MicroStrategy) fell 9.56% to $136.83 on Friday, and Palantir dropped 7.22% to $186.03 the same day. Polkadot lost 7.29% to $1.049 in the past 24 hours. On the upside, ExxonMobil rose 2.46% to $178.98, Coca-Cola added 2.07% to $93.90 and Procter & Gamble gained 1.45% to $159.35, all on Friday. Oil (WTI) closed up 1.05% at $99.00 on Friday.
Crypto traded lower over the past 24 hours. Bitcoin slipped 0.86% to $80,842, and Ethereum fell 3.28% to $2,336.97. The Crypto Fear and Greed index stood at 53, labelled Neutral. CoinDesk reported that the White House's crypto chief has departed, and that stablecoin supply has stalled even as payments jumped 45% as Visa, Mastercard and Stripe connect crypto to cash. Gold closed down 0.32% at $4,144.70 in the last session, and the gold ETF slipped 0.18% to $382.01 on Friday.
The rest of today's wrap
US inflation rose to 3.74% in September, up from 3.4%, while core CPI reached 2.56% from 2.45%, according to the US Bureau of Labor Statistics. UK CPI inflation climbed to 3.1% in August from 2.9%. The Fed funds effective rate stands at 3.88%, within a target range of 3.75 to 4.00%.
The 2-year Treasury yield is 4.74% and the 10-year is 5.09%, from 5.1%. US M2 money supply reached $23,342.8bn in August, up 5.66% year on year. CNBC Economy argued that a $2 trillion deficit and 5% Treasury yields are becoming America's biggest economic challenge.
The FTSE 100 closed down 0.06% at 10,650 on Tuesday. The next event is UK inflation (CPI) on 21 October, followed by the Federal Reserve rate decision on 28 October, the Bank of England rate decision on 5 November and US inflation (CPI) on 10 November. The Bank of England Bank Rate is 3.75%. According to CNBC, Meta Platforms and Tesla are among the companies set to report next week.
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.