The wrap
- S&P 500 7,719.97 +0.56%
- Nasdaq-100 29,651 +1.29%
- FTSE 100 10,650 -0.06%
- S&P 500 ETF $769.45 -0.03%
- Gold ETF $372.08 -0.05%
- Gold $4,060.56 +0.96%
- GBP/USD 1.3313 -0.48%
- Bitcoin $80,622 +1.12%
- Ethereum $2,340.62 +1.55%
US stocks closed higher on Tuesday. The S&P 500 rose 0.56% to 7,719.97, and the Nasdaq-100 gained 1.29% to 29,651. The S&P 500 ETF was little changed at $769.45 over the same session. In London, the FTSE 100 eased 0.06% to 10,650 in the last session, so the two markets moved in different directions.
Visa was the weakest large name among the movers, falling 2.05% to $393.52 on Tuesday. Coinbase slipped 0.89% to $159.65 the same day. According to CNBC, Robinhood shares fell 5% as a slump in crypto weighed on profits, although gains in the firm's newer businesses offset part of the damage. Robinhood's crypto revenue fell 55% from a year earlier, but still beat Street forecasts, according to CoinDesk.
Crypto assets had a mixed day over the past 24 hours. Bitcoin rose 1.12% to $80,622 and Ethereum added 1.55% to $2,340.62. XRP led the gainers with a 2.28% rise to $1.318, while Sui climbed 1.79% to $0.9234. Polkadot dropped 1.21% to $0.9921. The crypto Fear and Greed index stands at 48, which is labelled Neutral. Treasury's Bessent, according to CoinDesk, sees crypto as America's next tool for keeping the US dollar on top. Gold closed up 0.96% at $4,060.56 on Tuesday, while WTI crude closed down 2.16% at $99.56.
The rest of today's wrap
Inflation picked up on both sides of the Atlantic. US CPI inflation rose to 3.74% in September from 3.4% in the previous reading, and core CPI edged up to 2.56% from 2.45%. UK CPI inflation climbed to 3.5% from 3.1%. The Fed funds effective rate sits at 3.88%, inside its 3.75 to 4.00% target range, and the Bank of England Bank Rate is 3.75%.
The US 2-year Treasury yield stands at 4.68% and the 10-year at 5%. US M2 money supply reached $23,342.8 billion in August, up 5.66% year on year. According to CNBC Economy, a $2 trillion deficit and 5% Treasury yields are becoming America's biggest economic challenge.
The next few weeks carry several scheduled events. The Federal Reserve announces its rate decision on 28 October, followed by the Bank of England on 5 November, US CPI on 10 November and UK CPI on 18 November. CNBC reports that AI debt fears have eased ahead of updates from Oracle, Alphabet and Amazon. Trend scores currently show 24 assets in an Uptrend and 15 in a Downtrend.
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.