Morning Markets: Nasdaq Jumps 1.09%, Bitcoin Holds Near $75,800
Stocks closed mixed on Friday as chip shares rebounded and the Dow slipped. Bitcoin dipped below $75,000 overnight before recovering, and fear gauges sat at extreme levels in both stocks and crypto.
Key points
- US stocks ended Friday in two directions at once.
- Bitcoin had the rougher night.
- S&P 500: 7,376.86, up 0.31%.
US stocks ended Friday in two directions at once. The Nasdaq rose 1.09% to 24,579.42 and the S&P 500 added 0.31% to 7,376.86, while the Dow Jones fell 0.46% to 51,285.73. Chip stocks led the rebound. Sentiment stayed fragile: the equal-weighted S&P 500 fell 0.38% on the day, which means the average stock went down even as the headline index went up.
Bitcoin had the rougher night. It touched below $75,000 before recovering to about $75,835 by Saturday morning. Spot Bitcoin funds saw $412 million in outflows in 24 hours and about $1.28 billion over seven days, according to the Daily Market Report. Ether traded near $2,231, little changed. Fear and greed gauges printed extreme fear in both markets, 22 for equities and 25 for crypto, and high-yield credit spreads widened 16 basis points to 348.
Key numbers
S&P 500: 7,376.86, up 0.31%. Nasdaq: 24,579.42, up 1.09%. Dow Jones: 51,285.73, down 0.46%. Bitcoin: about $75,835, after a dip below $75,000. Ether: about $2,231. Ten-year Treasury yield: 4.86%. VIX volatility index: 25.64, down 9.01% on the day but still elevated. Gold: about $4,074 an ounce, down roughly 1%. West Texas crude: about $90.60 a barrel.
The movers behind the index
AMD was the day's standout, up 11.04% to $449.04 in Friday's wrap data. Tesla rose 4.23% to $358.22 and Nvidia gained 2.78% to $186.64. The rest of the big tech group was quieter: Alphabet added 0.78%, Meta added 0.84%, Apple slipped 0.52% and Microsoft fell 0.99%. That split explains the index split. Money went back into chips and a few growth names, and came out of the Dow's industrial blue chips.
The Nasdaq is still in a hole for the month, down about 10.75% over the past month in the Pulsafi market data. Friday's bounce did not change that picture. It did show buyers are still willing to step in on chip names after a hard selloff.
Why it matters for ordinary money
For anyone with a 401(k) or an index fund, the index split matters more than the headline. A fund that tracks the S&P 500 rose a little on Friday. A fund spread evenly across stocks fell. Neither move changes a long-term plan, and one day of chip buying does not end a month-long slide.
Borrowing costs are the other channel. The ten-year Treasury yield ended the week at 4.86%. Mortgage rates and business loans track that yield, not the daily stock moves. At 4.86%, borrowing stays expensive, and a fear reading of 22 says traders expect more swings before that changes.
Crypto holders face the sharpest short-term risk. A $412 million single-day outflow from Bitcoin funds is real selling, not noise, and the price still sits about 14.5% below where it started the year. The recovery from below $75,000 shows buyers exist at that level. It does not show the selling is finished.
What happens next
China's October consumer price figures print on Monday. There are no major US releases today. The next test for stocks is whether chip buying spreads to the rest of the market or stays narrow. The next test for Bitcoin is simpler: hold $75,000, or lose it with fund outflows still running.
This roundup reports market news. It is not financial advice. Readers should do their own due diligence before buying or selling anything.