Stock market highlights: Miners lead the way on UK100, cryptos mixed, Wall Street up

By: Daniela Kirova
Daniela Kirova
Daniela was born in Bulgaria, grew up in Chicago, and then moved to Michigan to attend the University of… read more.
on Oct 8, 2021
  • After gaining over 300% this week, SHIBA INU lost more than 20% in the past 24 hours
  • US-listed Chinese tech companies like Baidu, JD, and NetEase led the NASDAQ100
  • Oil prices approaching the $80 mark

Over the past 24 hours, the crypto market had no clear direction. Some of the main cryptos lost ground, others gained. US stock indices improved after the Senate reached a debt deal. Oil continued to rally. Here’s a roundup of the highlights, courtesy of eToro and analyzed by Invezz.

Cryptos mixed as SHIBA INU drops 20%

Bitcoin (BTC/USD) took a breath after its impressive rise of over 20% in the past week. At the time of publication, it was changing hands for $55,406.71. After gaining over 300% this week, SHIBA INU (SHIB/USD) lost more than 20% in the past 24 hours.

US-China summit and Senate debt deal push US indices up

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After the Senate struck a deal to keep the US from defaulting on debt, all major US stock indices gained ground. DJ30 closed the day with a 1% gain. Constituent stocks like Nike and Home Depot added more than 2%. SP500 closed 0.8% higher with almost all sectors in the green. Top performers included Ford and GM.

The increase in copper prices pushed miner Freeport-McMoRan up 8.2%. US-listed Chinese tech companies like Baidu, JD, and NetEase led the NASDAQ100 after it emerged the US and China had agreed to hold a virtual summit this year. Today, US markets might be affected by the NFP report and other job data, awaiting release at 12:30 GMT.

Mining stocks lead the way on UK100

Mining stocks pushed the UK100 up, adding 1.2% yesterday. Anglo American and Antofagasta both added over 5% to their share prices. Rio Tinto and BHP Group also benefited from the copper price increase, closing with gains of over 3%.

Today, the biggest winners on eToro were Ford Motor Co, FCX, NetEase Inc., Pinduoduo Inc., and JD.US, up 5.38%, 8.07%, 8.26%, 6.16%, and 6.05% respectively.

Oil reaching $80, Tata surges 15%  

Today, the oil rally continued, with prices approaching the $80 mark. Indian Tata Motors gained more than 15% after changed stock evaluations. GER40 and FRA40 were down 20 and 10 points. In Canada, monthly employment and unemployment figures will be released at 12:30 GMT, resulting in potential volatility for the CAD.

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