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On Friday, major U.S. equity indices finished mixed as uncertainty surrounding Nvidia’s leadership transition pressured semiconductor and AI-related stocks, while producer-price data kept expectations for further Federal Reserve tightening intact.
The S&P 500 fell 30.70pts (-0.4%) to 7,561.
The Nasdaq 100 declined 345.40pts (-1.2%) to 27,943.
The Dow edged up 50.40pts (+0.1%) to 52,347.
On the sector front, Consumer Staples (XLP), Communication Services (XLC), and Energy (XLE) outperformed, while Consumer Discretionary (XLY), Industrials (XLI), and Technology (XLK) underperformed the most.
On the economic front, producer prices rose 6.5% year-on-year in October, below the 6.6% expected but up from 6.3% previously. Month-on-month, PPI increased 0.3%, below the 0.4% forecast and down from a revised 1.3% in September.
U.S. Equity News:
Charter Communications (CHTR) gained 4.3%.
Advanced Micro Devices (AMD), a semiconductor designer focused on CPUs and AI accelerators, tumbled 8.7% amid renewed volatility across AI-related stocks following Nvidia’s leadership upheaval, reversing part of its strong gains from earlier in the week.
Dell Technologies (DELL), a provider of servers and enterprise computing infrastructure, dropped 7.2% as selling intensified across AI server and infrastructure stocks ahead of its November 24 earnings report.
Cisco Systems (CSCO) fell 6.2%.
SanDisk (SNDK), a flash-memory and data-storage company, fell 5.5% as investors weighed increasing NAND competition, with its global revenue share recently falling to 11% from 13%.
Meta Platforms (META) gained 2.8%.
Volatility & Commodities Snapshot:
The VIX index rose 0.60pts (+3.21%) to 19.30.
The U.S. 10-year yield rose 4.64 basis points to 5.149%.
Gold slipped $3.66 (-0.09%) to $3,872.69.
Silver fell $1.32 (-2.64%) to $48.69.
WTI crude oil gained $0.32 (+0.36%) to $89.06.
Europe Market Overview:
At the European close, the major indices finished mixed.
Germany's DAX fell 21pts (-0.08%) to 26,749.
France's CAC 40 edged up 7pts (+0.09%) to 8,368.
The U.K.'s FTSE 100 gained 39pts (+0.36%) to 10,902.
Foreign Exchange & Crypto Wrap:
The Dollar Index rose 0.20pts (+0.19%) to 103.371.
EUR/USD fell 31pips (-0.28%) to 1.1022.
GBP/USD slipped 11pips (-0.08%) to 1.3216.
USD/JPY edged lower 11pips (-0.07%) to 159.74.
USD/CHF gained 40pips (+0.48%) to 0.8391.
AUD/USD fell 35pips (-0.51%) to 0.6773.
USD/CAD edged up 13pips (+0.09%) to 1.4268.
Bitcoin fell $2,940 (-4.11%) to $68,546.
Ethereum declined $78.49 (-3.89%) to $1,937.35.
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