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Daily market wrap ·

Wall Street Slips as Earnings Season Nears and Oil Falls

The S&P 500 closed down 0.52% on Friday as earnings season approaches, with US inflation rising to 3.74% in September.

332 words · written at 21:00 GMT after the US close · 8 headlines referenced

The wrap

The S&P 500 closed down 0.52% at 7,623.68 on Friday, and the S&P 500 exchange-traded fund finished the session at $759.97. The Nasdaq-100 barely moved, closing little changed at 28,958. In London, the FTSE 100 slipped 0.06% to 10,650 in the last session. According to MarketWatch, more than a third of S&P 500 companies are about to report earnings as market confidence cracks, and a separate MarketWatch piece describes the current stock-market selloff.

ExxonMobil led the gainers, rising 2.79% on Friday to $183.21. AMD and Intel followed, up 1.74% and 1.72%. On the losing side, Procter & Gamble and Coca-Cola both fell 2.76%, closing at $161.02 and $92.71. Coinbase dropped 2.74% to $164.45. Of the tracked assets, 18 currently show an Uptrend, 15 a Downtrend, and 21 sit between the two without a clear direction.

Bitcoin eased 0.14% to $80,372 over the past 24 hours, and Ethereum fell 0.07% to $2,343.50. The crypto Fear and Greed index stands at 54, which is labelled Neutral. Gold edged up 0.19% to $4,007.54 in the last session, although the gold exchange-traded fund closed down 0.65% at $366.61 on Friday. Oil (WTI) fell 4.01% to $97.71 on Wednesday, and none of the headlines in the data explain that move.

The rest of today's wrap

US consumer prices rose to 3.74% in September, up from 3.4% a month earlier, while core CPI climbed to 2.56% from 2.45%. UK CPI inflation rose to 3.5% from 3.1%. US M2 money supply reached $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 its 3.75–4.00% target range. The 2-year Treasury yield is at 4.69% and the 10-year at 5.00%, up from 4.96%. The Bank of England Bank Rate is 3.75%.

The next scheduled events are the Federal Reserve rate decision on 28 October, the Bank of England rate decision on 5 November, the US inflation (CPI) release on 10 November, and the UK inflation (CPI) release 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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