4:25pm: Nasdaq falls 2.1%
Wall Street ended a volatile week on a sour note Friday as renewed selling in technology stocks dragged the Nasdaq lower, while a surge in oil prices added to investor concerns.
The Dow Jones Industrial Average fell 175 points, or 0.3%, to 52,002. The S&P 500 dropped 85 points, or 1.1%, to 7,659, while the tech-heavy Nasdaq Composite shed 573 points, or 2.1%, to 26,140.
The losses capped a difficult week for technology shares, with investors continuing to pull back from semiconductor stocks following a sell-off earlier in the week.
For the week, the Nasdaq fell 4.5%, ending a month-long winning streak and recording its worst weekly performance since late June. The S&P 500 lost 1.95%, while the Dow bucked the trend with a 0.7% gain as investors rotated away from technology stocks.
Oil added another layer of uncertainty. Brent crude touched $110 a barrel for the first time since May as Iran escalated attacks in the Strait of Hormuz, a key route for global energy shipments. West Texas Intermediate crude approached $100 a barrel.
The combination of geopolitical tensions and pressure on technology shares left investors weighing the risks to corporate earnings and the broader economic outlook.
Next week, attention will turn to another busy stretch of corporate earnings, with results expected from Netflix, Meta Platforms, Tesla, IBM, General Motors and 3M, among others. Their updates could offer further clues about business conditions, consumer demand and whether technology companies can sustain their recent growth.
3:30pm: Small cap wrap
U.S. Global Investors (NASDAQ:GROW) CEO Frank Holmes examines the factors driving surging global shipping rates and warns that a wave of new vessel orders could create excess capacity from 2027, putting pressure on freight rates and industry profits.
Tiziana Life Sciences Ltd (NASDAQ:TLSA) has begun dosing the final patient in its Phase 2 trial of intranasal foralumab for early or mild Alzheimer’s disease, completing dosing initiation across the study, with topline results expected in the first quarter of 2027.
Iofina PLC (AIM:IOF, OTC:IOFNF) has commissioned its largest iodine production plant to date in the Permian Basin, with production expected to begin ramping up in the coming weeks despite lower brine supplies and project delays affecting third-quarter output.
–HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) has secured regulatory approval to restart helium production at its Rudyard facility in Montana after a September shutdown, subject to routine reviews of gas composition.
2:15pm: Market movers
Netflix Inc (NASDAQ:NFLX, XETRA:NFC) is replacing Chief Content Officer Bela Bajaria with former Disney executive Peter Rice after a decade with the company, a day after announcing layoffs affecting 6% of its workforce, with shares falling 2%.
Alcoa (NYSE:AA) more than doubled third-quarter net income year on year to US$483 million as higher production supported earnings, although lower aluminium prices and shipments weighed on results compared with the previous quarter.
Truist Financial Corp (NYSE:TFC) reported a 12% increase in third-quarter adjusted earnings per share to US$1.16, despite a US$1.4 billion pre-tax loss from repositioning its securities portfolio that contributed to a decline in reported net income.
Tesla Inc (NASDAQ:TSLA) unveiled a new Roadster sports car capable of performing aerial manoeuvres using high-pressure air propulsion, with production planned for 2028.
12:30pm: FTSE posts a good week
The UK’s main index finished the week strongly, up 0.4% on the day at 10,882 points to close out the week with a 3.1% gain.
“Investors sought shelter in U.K. defensive and personal goods sectors amid a global rout in AI-linked equities, while a pullback in government bond yields provided underlying support ahead of next week’s crucial domestic inflation and labor market data releases,” said Tickmill’s Patrick Munnelly.
“While budget tax speculation weighed on domestic banks, declining gilt yields and steadying inflation expectations keep the market anchored near multi-week highs entering a key macro data week.”
11:15am ET: Anthropic valuation cools
Anthropic (Unlisted (US):ANTHRO), the artificial intelligence company behind Claude, is being valued by some investors at about $1.5 trillion ahead of its planned November initial public offering, below earlier expectations of $2 trillion, Reuters reported.
The reassessment follows a slowdown in quarterly revenue growth, raising questions about whether the company can sustain the expansion needed to justify its valuation.
Anthropic disclosed that revenue rose 45% from the previous quarter to $16.8 billion in the third quarter, while the company remained profitable on an adjusted basis.
The growth rate was slower than in the second quarter, when revenue more than doubled to $11.6 billion from $4.7 billion in the first quarter.
The figures were presented at an investor day at Anthropic‘s San Francisco headquarters, attended by existing investors and prospective backers ahead of the anticipated share sale.
10:00 am ET: US stocks open muted
As expected, Wall Street opened on Friday largely muted.
The Dow and S&P opened slightly higher, while the Nasdaq fell as semiconductor stocks came under pressure.
The Dow Jones Industrial Average rose 130.60p, or 0.25%, to 52,308.28 at the open, while the S&P 500 gained 1.30p, or 0.02%, to 7,745.32.
The Nasdaq Composite fell 60p, or 0.22%, to 26,652.985 at the opening bell.
The S&P 500 slipped into negative territory in the first minutes of trading, falling almost 5p, or 0.06%, to 7,739.11. It recovered later.
Tesla’s gains provided some support, but the technology-sector weakness kept the overall market subdued.
Tesla (TSLA) shares rose 1.86% to $369.18, gaining $6.74 at about 9:45 am ET.
They were up about 4.4% in premarket trading after the company unveiled a redesigned Roadster featuring rocket-style thrusters developed with SpaceX, with investors watching for further details on production timing and commercial prospects.
CoreWeave (CRWV) shares fell about 6% to $65.18, losing $4.51.
Premarket trade expected this as concerns over the Nvidia-backed AI infrastructure company’s debt burden and financing costs weighed on sentiment, with investors watching for signs of further weakness across the data-centre sector.
Also, in early trade, Netflix (NFLX) shares were down almost 2% to $71.21, losing $1.40.
This came after the company announced the departure of its chief content officer and workforce cuts, as investors assessed the implications for user engagement and growth.
The FTSE 100 rose 0.36%, or 38.99 points, to 10,879.34, while the FTSE 250 outperformed, gaining 0.45%, or 109.50 points, to 24,534.27, with both indices trading in positive territory at about 2:55 pm BST.
The FTSE gained momentum in later sessions on Friday, recovering from an early dip as investors sought relatively defensive shares amid a global sell-off in AI-related stocks, although sentiment remained fragile.
9:00 am EDT: US pre-market is cautious
US futures continue to be a mixed bag, about 30 minutes before Wall Street opens.
Pressure is on AI and tech stocks.
Tesla shares rose 3% in premarket trading after the electric vehicle maker unveiled a redesigned Roadster featuring rocket-style thrusters developed in collaboration with SpaceX.
Nvidia-backed CoreWeave fell over 5%, giving back some ground after Thursday’s rebound, as concerns persisted over the data centre operator’s debt burden.
The FTSE 100, though back in black at about 1:54 pm BST, has been largely flat today.
It is up 0.04%, or 5p, at 10,844.95.
WPP led FTSE 100 risers on Friday, climbing over 4%, or 16.30p, to 416.70p, followed by Babcock International, up over 3% to 963.60p, and Auto Trader Group, which gained over 2% to 546.60p.
BAE Systems rose over 2% to 1,979p, while Weir Group added over 2% to 2,672p.
Severn Trent was the biggest faller, dropping 2% to 3,144p, followed by Antofagasta, down 2% to 3,354p, and AstraZeneca, which lost 2% to 12,438p.
NatWest and Lloyds also fell, alongside utilities and pharmaceutical stocks.
The FTSE 100’s biggest risers and fallers point to a divergence in sector performance, with industrial and defence-related shares gaining while utilities, banks and healthcare stocks came under pressure.
Best of the brokers
Citi: Johnson Matthey (Johnson Matthey PLC (LSE:JMAT)) coverage renewed, ‘buy’ rating, £28.50 target; forecasts FY2027 EPS +40%, ~12% above consensus
Man Group (Man Group PLC (LSE:EMG)): Shares +4% to 348.8p after strong net inflows; Peel Hunt reiterated ‘buy’, 350p target, citing momentum in performance fees and robust results
8:00 am EDT: Wall Street preview
US stock index futures were mixed on Friday as renewed concerns about the sustainability of the AI trade pressured technology shares.
At 12:40pm BST, Nasdaq 100 futures were down 42.75p at 30,101, indicating continued pressure on technology shares, while S&P 500 futures rose 0.11% to 7,799.75.
Micro E-mini Dow Jones Industrial Average futures for December gained 37p, or 0.07%, to 52,467, pointing to modest support for blue-chip stocks.
Brent crude futures for December delivery rose 0.58% to $106.53 a barrel, signalling continued upward pressure on oil prices, more so because of the continued Houthi attacks in Saudi Arabia.
The gain could reinforce inflation concerns by raising energy and transport costs, potentially complicating the outlook for central banks seeking to bring inflation under control.
The dollar weakened further on Friday, extending its retreat earlier in the week, as falling US Treasury yields and concerns over the AI trade weighed on the currency.
Sterling strengthened against both the US dollar and the euro, with the dollar falling 0.48% to £0.7496 and the euro declining 0.33% to $0.8883.
US Treasury yields fell sharply while yields in the UK, Australia and Canada edged higher, pointing to a divergence in government bond markets, with the 10-year US yield down 9 basis points to 5.10%, against smaller increases elsewhere.
The move suggests investors were more inclined to buy US government debt than bonds in the other three markets, among other reasons.
At 12:55 pm BST, the FTSE 100 slipped back into negative territory, falling 0.08%, or 8.94p to 10,831.41, after swinging between gains and losses earlier in the session.
The choppy performance reflects fragile sentiment following Thursday’s technology-led sell-off, as investors weigh concerns about artificial intelligence valuations and the outlook for interest rates.
The FTSE 250 is holding up better, rising 0.44% to 24,531.88.
12:00 noon BST: Footsie rebounds
European stock markets rose in early trading on Friday as sentiment began to recover from the previous session’s sharp tech sell-off, while the dollar weakened and was on track for a weekly loss.
The FTSE 100 has rebounded to 10,853.85, up 13.50p, or 0.12%, while the FTSE 250 has gained 0.62% to 24,575.27 at 11:52 am BST.
The recovery in blue-chip shares follows an earlier pullback, but the FTSE 100’s modest gain suggests sentiment remains fragile, with mid-cap shares continuing to outperform.
US futures mixed as Nasdaq slips and S&P 500 rises.
At 11:50 am BST, Nasdaq 100 futures was down 0.08% at 30,119.25, while S&P 500 futures rose 0.19% to 7,805.50.
Micro E-mini Dow Jones Industrial Average futures for December 2026 are up 0.42% at 52,652.00, pointing to a firmer outlook for blue-chip shares than the Nasdaq futures suggest.
The divergence comes as investors remain cautious about technology valuations and the debt needed to finance the artificial intelligence boom, even as broader markets recover from Thursday’s volatility.
11:00 am BST: Small-cap Round-Up
Iofina PLC (AIM:IOF, OTC:IOFNF), the iodine producer, has commissioned its largest iodine production plant to date in the Permian Basin, marking an expansion milestone as lower brine supplies and project delays weighed on third-quarter output.
Pathos Communications Plc (LSE:NEWS), the public relations technology company, has been named Best Newcomer at the AIM Awards 2026.
HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) announced it has secured regulatory approval to restart helium production at its Rudyard facility in Montana, clearing the hurdle that forced operations to pause in September.
10.00 am BST: Mid-caps and AIM outperform
The FTSE 100 was broadly unchanged at 10,838 as gains for WPP and industrial companies offset continued weakness among UK banks.
Advertising group WPP led the blue-chip risers with a 4.2% advance, extending the previous session’s 3% gain.
Babcock International climbed 3.6%, Melrose Industries added 2.6% and engineering group Weir rose 2%.
Auto Trader gained 1.8%, Pearson advanced 1.8% and defence contractor BAE Systems added 1.8%.
The domestically focused FTSE 250 outperformed with a 0.5% rise to 24,538, while the AIM All-Share gained 0.8% to 771.
The FTSE 350 and FTSE All-Share both edged 0.03% higher as broader market strength outweighed the FTSE 100’s subdued performance.
Banking shares remained under pressure amid expectations that Chancellor John Healey could increase the surcharge on bank profits in the 28 October Budget.
Fresh European data showed eurozone annual inflation was confirmed at 3.8% in September, up from 3.2% in August and well above the European Central Bank’s 2% target.
The eurozone also recorded a €16.1 billion trade deficit in August, compared with a €1.7 billion deficit during the same month last year, as elevated energy costs increased the region’s import bill.
The figures reinforced expectations that the European Central Bank will maintain a cautious approach as policymakers balance persistent inflation against weakening industrial and trade conditions.
9.00 am BST: Banks drag on blue chips
The FTSE 100 slipped 5 points to 10,836 as Lloyds Banking Group and NatWest led the fallers amid expectations of higher taxes on the banking sector.
Lloyds dropped 2.3%, and NatWest fell 2.1% as Chancellor John Healey reportedly considered reversing previous reductions to the bank surcharge in his 28 October Budget.
The surcharge could rise from 3% to 8%, potentially generating more than £2 billion a year as the government seeks to offset pressure on the public finances from higher borrowing costs and the Middle East conflict.
Antofagasta fell 2.1%, AstraZeneca declined 1.7%, Games Workshop lost 1.4% and Anglo American retreated 1.1%.
WPP led the risers with a 3.4% gain, extending its early advance, while Babcock International climbed 2.5% and Melrose Industries added 1.8%.
Investment group 3i rose 1.7%, RELX gained 1.5%, Pearson advanced 1.3% and Computacenter added 1.2%.
The FTSE 250 outperformed with a 0.2% rise to 24,467, led by THG, which jumped 6.4%.
Baltic Classifieds gained 3.9%, recruitment group Hays advanced 3.7% and CMC Markets rose 3.2%.
Princess Group led the mid-cap fallers with a 5.6% decline, while JPMorgan Emerging Markets Investment Trust lost 2.9% and Ocado Group fell 2.7%.
The AIM All-Share strengthened 0.6% to 769.
8.30 am BST: London opens mixed
London stocks opened mixed on Friday, with the FTSE 100 down 12 points, or 0.1%, at 10,828 following its strongest session in about four weeks.
The blue-chip index closed 1.08% higher at 10,840.35 on Thursday, reaching its highest finishing level in five weeks.
The domestically focused FTSE 250 moved 0.1% higher to 24,458, while the AIM All-Share outperformed with a 0.5% gain to 769.
Advertising group WPP led the FTSE 100 risers with a 2% advance, while gains among miners and industrial companies provided further support.
Glencore rose 1.5% and precious-metals producer Fresnillo added 1.4%.
Defence and engineering shares were also in demand, with Babcock International up 1.4%, Melrose Industries gaining 1.3% and Weir Group advancing 1.1%.
Computacenter climbed 1.3%, while aircraft-engine maker Rolls-Royce gained 1%.
The stronger performance from mid-cap and junior shares suggested domestic and smaller companies were proving more resilient than the internationally weighted blue-chip index during early trading.
The broader FTSE 350 and FTSE All-Share were both down around 0.1%.
7.00 am BST: London set for softer open
London stocks are expected to open slightly lower on Friday, with IG pricing the FTSE 100 at about 10,826, around 14 points below Thursday’s closing level.
The blue-chip index finished the previous session 1.08% higher at 10,840.35 – its strongest session in about four weeks and its highest finish for five weeks.
Wall Street reversed early losses after US Treasury yields retreated and technology shares recovered some ground.
The Dow Jones Industrial Average jumped 1.1% to 52,177.69, while the S&P 500 rose 0.3% to 7,744.06 and the technology-heavy Nasdaq edged 0.1% higher to 26,713.03.
Asian markets rebounded from Thursday’s technology-led rout, with South Korea’s Kospi climbing about 3.6% after its previous 7.6% plunge.
Japan’s Nikkei advanced around 1.8%, Hong Kong’s Hang Seng added 1.2%, and Taiwan’s Taiex rose 0.6%, while Australia’s ASX 200 closed 1.1% higher.
Commodity trading was mixed, with Brent crude slipping 0.4% to $105.21 a barrel and US crude easing 0.2% to $97.33.
Gold gained 0.5% to $4,175.62 an ounce as investors continued to seek protection from uncertainty surrounding inflation and interest rates.
Sterling strengthened 0.2% against the dollar to $1.3301, while Bitcoin traded close to $82,100, up about 2%.
There are no major UK economic releases scheduled, leaving attention on company updates and overseas data.
Eurozone current-account figures are due at 9 am, followed by the region’s trade balance and final inflation reading at 10 am.