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Daily market wrap ·

Wall Street slips as the S&P 500 closes down 0.46% on Friday

US stocks eased on Friday while bitcoin and ether held steady, with US inflation running hotter than a month earlier and key rate decisions due in the coming weeks.

352 words · written at 21:00 BST after the US close · 8 headlines referenced

The wrap

The S&P 500 closed down 0.46% at 7,628.40 on Friday, while the Nasdaq-100 finished little changed at 28,959. The S&P 500 ETF slipped 0.52% to $759.96 over the same session. In London, the FTSE 100 closed down 0.06% at 10,650 in the last session.

Among the individual names, Coca-Cola fell 2.76% to $92.71 on Friday, Coinbase dropped 2.64% to $164.63 and Eli Lilly lost 2.55% to $1,273.41. ExxonMobil rose 2.73% to $183.10, making it the strongest gainer among the large stocks in the data. None of these moves came with a cause attached in the headlines provided.

According to CNBC, Apple is set to take back the market-cap crown from Nvidia, with upcoming earnings seen as the possible trigger. MarketWatch, meanwhile, reported that Nvidia's stock could become a safe haven as Wall Street rethinks the AI trade. CNBC also flagged a bearish chart pattern forming on the S&P 500, asking whether the index can snap out of it.

The rest of today's wrap

Bitcoin was down 0.07% at $81,240 in the past 24 hours, and Ethereum rose 0.62% to $2,394.54 over the same period. Shiba Inu and BNB were the strongest gainers in the crypto data, up 1.94% and 1.59%. The Crypto Fear and Greed Index stood at 50, labelled Neutral.

Gold closed down 0.67% at $4,007.20 on Friday, and the gold ETF slipped 0.62% to $366.71. Oil (WTI) closed down 4.01% at $97.71 on Wednesday, a move the data records without a stated cause. US Treasury yields have eased: the 10-year fell to 4.96% from 5.13%, and the 2-year stood at 4.65% on 22 October.

Inflation picked up in both countries. US CPI rose to 3.74% in September from 3.4% previously, and core CPI reached 2.56% from 2.45%. UK CPI climbed to 3.5% from 3.1%. The Fed funds effective rate sits at 3.88%, and 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. The next events are the Federal Reserve decision on 28 October, the Bank of England decision on 5 November, US CPI on 10 November and UK CPI on 18 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.

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