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U.S. stocks finished mixed Friday, with strength in technology and crypto-linked shares helping the Nasdaq outperform, while the Dow slipped.
The S&P 500 advanced 12.74pts (+0.17%) to 7650.5.
The Nasdaq 100 gained 197.186pts (+0.67%) to 29644.167.
The Dow fell 95.4pts (-0.18%) to 51682.64.
On the sector front, Technology (XLK), Industrials (XLI), and Financials (XLF) outperformed, while Materials (XLB), Utilities (XLU), and Communication Services (XLC) underperformed the most.
Looking at the latest U.S. economic data, industrial production was flat in August, missing the 0.3% increase expected and slowing from 0.2% previously. The Conference Board Leading Economic Index also fell 0.1%, versus a 0.1% increase expected and down from 0.2% previously, pointing to softer forward-looking economic momentum.
U.S. Equity News:
Coinbase Global (COIN), a cryptocurrency exchange operator, surged 11% alongside other crypto-linked stocks as Bitcoin advanced following a CFTC proposal outlining a regulatory framework for crypto asset transactions and markets. Robinhood (HOOD) jumped 9.12%.
SanDisk (SNDK), a flash-memory and data-storage company, rose as much as 10% Friday as investors reacted to its upcoming addition to the S&P 100. The company is set to join the index before trading begins Monday, Sept. 21, replacing Colgate-Palmolive.
Netflix (NFLX), the video streaming service, slid 4.67% after the company was downgraded to "underweight" from "equal-weight" at Wells Fargo.
Volatility & Commodities Snapshot:
The VIX index declined 0.63pt (-4.08%) to 14.81.
The U.S. 10-year yield was unchanged at 5%.
In the commodities market, gold gained 36.82 dollars (+0.85%) to 4376.91.
Silver jumped 1.04 dollars (+1.6%) to 66.23.
WTI Crude Oil retreated 2.38 dollars (-2.34%) to 100.3.
Europe Market Overview:
European markets finished sharply lower Friday, with major indices across Germany, France and the U.K. declining as investors weighed stronger German producer-price inflation alongside mixed economic signals from the region.
Germany's DAX dropped 412pts (-1.6%) to 25304.
France's CAC 40 fell 121pts (-1.49%) to 8065.
The U.K.'s FTSE 100 declined 157pts (-1.45%) to 10659.
On the data front, German producer prices rose 4.6% year-over-year in August, above the 4.1% expected and accelerating from 3% previously. Meanwhile, U.K. retail sales rose 0.5% month-over-month in August, compared with expectations for a 0.2% decline and following a 0.5% drop in July.
Foreign Exchange & Crypto Wrap:
The dollar index slipped 0.03pt (-0.03%) to 100.215.
EUR/USD gained 9pips (+0.08%) to 1.1483.
GBP/USD advanced 38pips (+0.28%) to 1.3393.
USD/JPY jumped 90pips (+0.58%) to 156.86.
USD/CHF retreated 25pips (-0.3%) to 0.8218.
AUD/USD gained 8pips (+0.11%) to 0.7117.
USD/CAD slipped 1pip (-0.01%) to 1.3987. Canada's New Housing Price Index fell 0.1% month-over-month in August, versus expectations for no change and matching the previous month's decline.
Finally, in the cryptocurrency market, Bitcoin gained 133 dollars (+0.16%) to 81226, while Ethereum slipped 2 dollars (-0.08%) to 2629.
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