The wrap
- S&P 500 7,708.27 +0.64%
- Nasdaq-100 29,489 -0.13%
- FTSE 100 10,650 -0.06%
- S&P 500 ETF $768.54 +0.27%
- Gold ETF $377.80 -0.50%
- Gold $4,124.82 -0.36%
- GBP/USD 1.3381 +0.34%
- Bitcoin $82,505 +0.64%
- Ethereum $2,434.54 +1.41%
Oil (WTI) closed down 5.30% at $98.17 on Tuesday, the largest fall among the commodities in the data. No headline in the data explains the move. Gold closed down 0.36% at $4,124.82 on Tuesday, and the gold ETF closed down 0.50% at $377.80 the same day.
Equities were steadier. The S&P 500 ETF closed up 0.27% at $768.54 on Tuesday, following a 0.64% gain in the S&P 500 index to 7,708.27 on Monday. The Nasdaq-100 closed down 0.13% at 29,489 on Tuesday, and the FTSE 100 closed down 0.06% at 10,650 in the last session.
Bitcoin is up 0.64% at $82,505 and Ethereum is up 1.41% at $2,434.54 in the past 24 hours. The crypto Fear and Greed index stands at 55, which is labelled Greed. Strategy (MicroStrategy) led the gainers on Tuesday, rising 4.96% to $142.77. Eli Lilly climbed 3.67% to $1,285.81 and UnitedHealth rose 3.24% to $420.08. On the other side, Netflix fell 1.95% to $68.49, Meta slipped 1.65% to $693.82 and Alphabet lost 1.22% to $336.01, all on Tuesday.
The rest of today's wrap
US consumer prices rose to 3.74% in September, up from 3.40% in the previous reading, according to the US Bureau of Labor Statistics. Core inflation rose to 2.56% from 2.45%. In the UK, CPI inflation reached 3.1% in August, up from 2.9%, according to the Office for National Statistics. US M2 money supply stood at $23,342.8bn in August, growing 5.66% year on year.
The Fed funds effective rate is 3.88%, inside the 3.75% to 4.00% target range. The US 2-year Treasury yield is 4.77% and the 10-year is 5.15%, up from 5.09%. The Bank of England Bank Rate is 3.75%. CNBC Economy reports that the Fed is weighing more interest rate hikes, while BBC Business reports that the jobless rate fell even as small firms cut back on hiring. On trend scores, 23 assets sit in an Uptrend and 9 in a Downtrend.
The next event is UK inflation data on 21 October. The Federal Reserve decides on rates on 28 October, the Bank of England on 5 November, and US inflation is due on 10 November. BBC Business also reports that Trump has been sued over Canadian tariffs in the latest legal challenge.
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.