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Daily market wrap ·

Wall Street closes higher on Monday as Amazon jumps 5.1%

US stocks rose on Monday, Polkadot led the crypto gainers, and the next readings on UK inflation and central bank decisions arrive in late October.

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

The wrap

US stocks closed higher on Monday. The S&P 500 gained 0.64% to finish at 7,708.27, and the Nasdaq-100 rose 1.19% to 29,536. The S&P 500 ETF added 0.49% to $766.96 over the same session. Amazon was the strongest large name in the data, closing up 5.08% at $262.69. Coinbase slipped 2.79% to $168.33, JPMorgan fell 1.7% to $333.96 and Procter & Gamble lost 1.07% to $157.64. In London, the FTSE 100 closed down 0.06% at 10,650 in the last session.

Crypto has moved higher over the past 24 hours. Polkadot posted the largest gain among the movers listed, rising 7.58% to $1.131, and Litecoin climbed 4.65% to $59.71. Bitcoin added 1.14% to $81,770 and Ethereum rose 2.31% to $2,391.36. The crypto Fear and Greed index sits at 59, which the data labels Greed. CoinDesk reported that the US Commodity Futures Trading Commission has rebuffed CME's legal stance in a fight over perpetual futures.

Gold closed down 0.12% at $4,139.61 on Monday, and the gold ETF fell 0.61% to $379.67. Oil (WTI) dropped 3.02% to $98.35 over the same session. Of the assets the data tracks with a trend score, 24 carry an Uptrend score and 10 carry a Downtrend score.

The rest of today's wrap

Inflation remains above the Bank of England's and the Federal Reserve's comfort zones in the data. US CPI inflation reached 3.74% in September, up from 3.4% in the previous reading, while core CPI rose to 2.56% from 2.45%. UK CPI inflation rose to 3.1% in August from 2.9%. US M2 money supply stood at $23,342.8bn in August, 5.66% higher than a year earlier and up from $23,217.9bn in the prior reading.

The Fed funds effective rate sits at 3.88%, inside the 3.75% to 4.00% target range, while the 2-year Treasury yield is 4.74% and the 10-year is 5.09%. MarketWatch reported that the Treasury's financing plans are sparking anxiety on Wall Street, and CNBC Economy ran an analysis of a $2 trillion deficit and 5% Treasury yields.

The calendar starts with the UK inflation (CPI) release on 21 October. The Federal Reserve decides on rates on 28 October, the Bank of England follows on 5 November, and the US inflation (CPI) release arrives on 10 November. MarketWatch has also looked ahead to SpaceX earnings and their focus on AI.

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.

Important information

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