US Equity Markets End Lower as Oil Jumps, Tech Stocks Slide

MT Newswires Live
10 hours ago

US equity indexes ended lower Friday as crude oil prices rose and technology stocks slumped.

* Industrial production rose 0.7% in September, versus expectations for 0.4% in a Bloomberg poll and following an upwardly revised 0.1% increase in August, according to the Federal Reserve.

* The New York Federal Reserve's services index fell to minus 20.7 in October from minus 8.7 in September, compared with the minus 4.1 forecast in a survey compiled by Bloomberg. The index is the first services sector reading for October and suggests widespread contraction.

* November West Texas Intermediate crude oil rose $3.48 to settle at $101.45 per barrel, while December Brent crude, the global benchmark, was last seen up $3.70 at $109.58 as Houthi-Saudi Arabia and Russia-Ukraine tensions persisted.

* CoreWeave (CRWV) co-founders Michael Intrator, Brian Venturo and Brannin McBee have sold $3.3 billion in shares since the March 2025 IPO, including $2.4 billion in 2026, Bloomberg reported Thursday. Shares of the company fell 12%, the second-biggest decline on the Nasdaq.

* Yum! Brands' (YUM) KFC US will serve Coca-Cola (KO) products at its US locations starting January 2027 under a new partnership announced Thursday. Coca-Cola shares rose 2%, the second-largest gainer on the Dow.

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