**U.S. Stock Markets Close Mixed on Friday**
On September 15, 2023, the S&P 500 Index rose by 0.17%, while the Dow Jones Industrial Average fell by 0.18%, and the Nasdaq 100 Index increased by 0.67%. Meanwhile, December E-mini S&P futures gained 0.20%, and December E-mini Nasdaq futures rose by 0.70%. The mixed results followed a decline in crude oil prices, which fell over 1%, driven by hopes for resumed diplomatic relations in the Middle East.
Key economic data revealed a surprising drop in August manufacturing production by 0.3%, contrary to expectations of a 0.3% increase, marking the largest decline in ten months. Kansas City Fed President Jeff Schmid indicated ongoing efforts to address inflation, partly influenced by higher oil prices. Additionally, Bitcoin surged over 5% to a two-week high as the SEC advanced plans for digital securities trading in the U.S., contributing to a rally in cryptocurrency-related stocks.
**Interest Rates and Economic Indicators**
The 10-year Treasury note yield rose to 5.00%, reflecting expectations of a potential Federal Reserve rate hike. Markets are currently pricing in a 55% probability of a 25 basis point increase at the upcoming FOMC meeting on October 27-28. As for bond yields overseas, the 10-year German bund and UK gilt yields saw increases, while the Eurozone’s CPI expectations also ticked higher.
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