The wrap
- S&P 500 7,757.17 +0.58%
- Nasdaq-100 28,953 -2.91%
- FTSE 100 10,650 -0.06%
- S&P 500 ETF $763.61 -1.23%
- Gold ETF $368.93 -2.64%
- Gold $4,030.07 -2.51%
- GBP/USD 1.3387 +0.10%
- Bitcoin $81,300 -3.78%
- Ethereum $2,379.71 -4.60%
The Nasdaq-100 closed down 2.91% at 28,953 on Thursday, the steepest fall among the indices in our data. The S&P 500 ETF gave up 1.23% over the same session, closing at $763.61. Intel led the decline, finishing down 8.22% at $85.32, and AMD followed, falling 7.99% to $508.56. The S&P 500 had closed up 0.58% at 7,757.17 on Wednesday. In London, the FTSE 100 eased 0.06% to 10,650 in the last session.
Procter & Gamble was the best performer on Thursday, rising 5.7% to $165.78. Johnson & Johnson gained 3.99% to $268.06, and Eli Lilly added 2.92% to $1,307.81. Moderna also made headlines. According to MarketWatch, its cancer vaccine hit its targets, but an embargo breach rattled investors and the stock tumbled.
Bitcoin fell 3.78% to $81,300 in the past 24 hours, and Ethereum slipped 4.60% to $2,379.71. Avalanche dropped 7.76% to $9.096 over the same period. The crypto Fear and Greed index stands at 68, which reads as Greed. Gold closed down 2.51% at $4,030.07 on Thursday, and the gold ETF lost 2.64%, ending at $368.93. Oil fell 4.01% to $97.71 on Wednesday.
The rest of today's wrap
US consumer prices rose 3.74% in September, up from 3.4% in the previous reading, while core CPI rose to 2.56% from 2.45%. UK inflation climbed to 3.5% from 3.1%. According to CNBC Economy, that jump is cementing rate hike expectations in Britain.
The same outlet reported that housing is flashing warning signs just as the Fed weighs more rate hikes. The Fed funds effective rate sits at 3.88%, inside its 3.75–4.00% target range, and the 2-year and 10-year Treasury yields stand at 4.81% and 5.13%. US M2 money supply reached $23,342.8bn in August, up 5.66% from a year earlier.
Next on the calendar are the Federal Reserve decision on 28 October, the Bank of England decision on 5 November, the US CPI release on 10 November and the UK CPI release on 18 November. In the tracked assets, 19 carry an Uptrend score, 11 a Downtrend score, and 24 sit in between.
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.