Overview
- UK GDP fell 0.1% in October, the ONS reported, sending the FTSE 100 down 0.6% to 9,649.03 and knocking sterling toward $1.336.
- All three major U.S. indexes declined Friday, with the Nasdaq down 1.7%, the S&P 500 off 1.1% and the Dow lower by 0.5%.
- Broadcom dropped about 11% and Oracle fell roughly 4.6% after results disappointed, weighing on high-valuation technology shares.
- Comments from Fed officials who dissented from this week’s rate cut, including Austan Goolsbee and Jeffrey Schmid, supported the dollar and pushed Treasury yields higher, with Beth Hammack favoring slightly tighter policy.
- Analysts said the UK growth miss increased expectations for a Bank of England cut next week, while a sharp rise in U.S. jobless claims reinforced a softer labor picture ahead of the payrolls report.