- FTSE 100 up 60 points at 10,369
- Nasdaq bounces 1.6%
- Bitcoin just shy of $70,000
- Amazon declines 8% post-earnings
4.48pm: FTSE bounces back
The FTSE 100 added 60 points to close out Friday’s session at 10,369.
“After Thursday’s rout, another recovery is on the cards for markets today,” XTB research director Kathleen Brooks said.
“We mentioned earlier that the mini recovery in Bitcoin was likely to boost overall sentiment, as the link between crypto and AI stocks and the tech sector remains strong. Bitcoin is now higher by $5000 on the day, although it remains below the $70,000 level, silver and gold are recovering, and the S&P 500 is higher by more than 1%, led by the tech sector.”
3.10pm: Wall Street rebound adds pep to Footsie's step
The FTSE 100 sprang into life, rising around 40 points, after a subdued session into the Wall Street open, lifted late on by a rebound in US equities as investors reassessed recent tech-heavy losses.
US markets steadied after a bruising week, with the Dow, S&P 500 and Nasdaq all moving higher as fears over AI disruption and big-ticket capital spending eased.
Technology remained a mixed picture. Some of the gloom around AI spend persisted after fresh warnings from large US corporates, but chipmakers and selected growth stocks bounced as investors looked past near-term volatility.
Cryptocurrencies also stabilised, with bitcoin climbing off recent lows, offering further support to risk appetite.
Elsewhere, concerns lingered around autos and commodities, with sharp moves in EV stocks and continued volatility in silver.
Attention now turns to next week’s delayed US jobs report, which could shape expectations for the health of the labour market and the direction of rates.
1.10pm: Wall Street set to open in the green
US equity futures edged higher on Friday, signalling a tentative rebound after a bruising week for technology stocks as investors reassessed the risks surrounding artificial intelligence spending and disruption.
Futures on the S&P 500 and Nasdaq 100 rose modestly, while the Dow also pointed higher, clawing back some ground after broad losses on Thursday. Even so, both the S&P 500 and Nasdaq remain on course for weekly declines and have slipped into negative territory for 2026.
The sell-off has extended beyond equities. Bitcoin briefly sank to a 16-month low before recovering above $65,000, though it is still heading for its worst week since 2022 after erasing post-election gains. The crypto slump weighed heavily on firms with large digital asset exposure, despite some early signs of stabilisation.
In equities, concerns lingered over heavy capital spending by Big Tech, notably after Amazon outlined plans for a sharp increase in investment while warning on operating income.
Attention now turns to US labour market data next week, after recent indicators pointed to slowing hiring and rising layoffs, adding to uncertainty over the economic outlook.
11am: Pausing for breath
The FTSE 100 has found a firmer footing as the morning draws to a close, with US stock futures pointing to an end to yesterday's tech-led rout.
London's blue-chip index is currently 13 points higher at 10,322.34 after reversing a weak start this morning.
US stock futures are also pointing higher, recouping some of Thursday’s losses, despite a pre-market wobble in Amazon shares. Nasdaq futures are up 0.5%, S&P 500 futures have gained 0.4%, and Dow Jones futures are 0.2% higher.
Wall Street stumbled Thursday as tech giants slid and signs of labour market softness spooked investors, sending major indexes sharply lower.
Ahead of the US open, Amazon are now down 8% following a slight Q4 profit miss, though sales rose 14% to $213 billion. AWS and advertising are thriving, while North American and international stores both grew.
Looking ahead, Amazon plans a staggering $200 billion in 2026 for AI, chips, robotics, and satellites. CEO Andy Jassy said innovation is fueling growth, with these bold bets expected to pay off long-term.
9.45am: Tech's week from hell
The FTSE 100 has just turned positive, now up a modest 2 points at 10,311.24. However, global markets have suffered a sharp tech-led sell‑off this week as investors reacted nervously to the scale of AI-related spending by major technology firms - with Amazon just the latest to spook investors.
As AJ Bell’s Russ Mould put it, “It’s been a week from hell for tech stocks as AI spending plans caused upset across global markets and pushed investors to unplug hyperscalers from their portfolios.”
“Amazon has followed its peers by turning up the dial to max on AI spending, leaving investors with their jaws to the floor," he added.
Despite usually benefiting from risk-off conditions, Mould noted the FTSE 100 has struggled over the past day or so. Defensive sectors couldn’t offset heavy declines in tech, mining and industrials, although rising oil prices provided a rare bright spot for BP and Shell.
9.15am: A silver lining?
Silver has been on a rollercoaster this week, swinging nearly 10% in a single session as thin liquidity and volatile trading amplified its moves.
Spot silver tumbled toward $64 an ounce before bouncing 6.2% in Asian markets this morning, following a 20% drop that erased last month’s gains. That's almost a 50% slump since last Thursday’s peak at $121. "Remember, that was just a week ago," quipped Swissquote's Ipek Ozkardeskaya.
Meanwhile, gold's up 1.5% this morning at $4,840.67. It peaked at around $5,500 in late January.
The Footsie is now 17 points down at 10,292.68, off its morning lows. In Frankfurt, the DAX is 0.1% softer, while the Paris CAC 40 is 0.7% lower.
8.45am: Small caps in the news
Tooru PLC (AIM:TOO, FRA:73N), the AIM-listed wellness group behind Pulsin, has raised £1.1 million via new shares and debt-to-equity swaps. CEO Scott Livingston, Chair Nicholas Lee, and investor S-Ventures boosted their holdings. The cash will top up stock, support working capital, and fund future acquisitions, with retail investors also getting a chance to join the round. Read more
Blencowe Resources PLC (LSE:BRES) has released new assay results from shallow drilling at its Iyan deposit in Uganda, with most of 12 holes hitting near-surface mineralisation. Executive chair Cameron Pearce highlighted consistent, high-quality graphite at shallow depth and thicker high-grade zones. With deeper drilling showing continuity to 100 metres, the company sees strong potential to extend the deposit further. Read more
Valereum PLC (AQSE:VLRM, FRA:6TJ) has appointed Pieter Scholtz and Gerhard Kotzee as executive directors to help drive its plans for a US listing. Both are major shareholders with global finance experience. Chair James Bannon said the moves strengthen leadership, boost access to capital, and position Valereum for growth in tokenised digital markets. Matthew Farnum-Schneider and Grant Gischen also take on new board roles. Read more
8.15am: Soft start for the Footsie
The FTSE 100 started Friday on the backfoot, sliding 29 points to 10,280.21 in early trading as the sharp sell-off that has rippled through the US tech sector rattles investors.
London Stock Exchange Group PLC (LSE:LSEG) is leading the decliners this morning with a 4.2% fall. RELX PLC (LSE:REL), The Sage Group PLC (LSE:SGE) and Smith & Nephew PLC (LSE:SN) are also under pressure, with declines of 2% to 3%.
Miners Anglo American PLC (LSE:AAL) and Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) are also down.
On the riser board, the gains are more modest, with Centrica PLC (LSE:CNA) gaining 1% and NatWest Group PLC (LSE:NWG) and Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF) adding about 0.6% each.
8am: Markets down, house prices up
One bright spot this Friday morning - the UK property market has officially crossed a major milestone. According to the latest Halifax report, the average house price has climbed above £300,000 for the first time, currently sitting at £300,077.
After a slight dip in December, prices bounced back, rising 0.7% in January. While Amanda Bryden from Halifax admits that affordability is still a bit of a mountain to climb for first-time buyers, there is a silver lining: wage growth is finally outpacing house price inflation, and those sub-4% mortgage deals are starting to reappear.
Interestingly, the "North-South divide" is flipping the script. While Northern Ireland (up 5.9%) and Scotland (up 5.4%) are seeing prices surge, London and the South are actually cooling off. It seems higher taxes and borrowing costs are hitting the pricier areas the hardest.
7.45am: Bitcoin getting battered
Bitcoin has had a bruising week, tumbling to its lowest level since late 2024 before managing a small bounce on Friday. The cryptocurrency briefly slipped to around $60,000 on Thursday, then recovered about 3.3% to trade near $64,948 early Friday. Even so, it’s still miles away from its October 2025 peak of $122,200 - a drop of roughly 47%.
The slide has come despite vocal support from US President Donald Trump, whose administration has pushed a string of pro-crypto moves, from backing legislation to easing enforcement and even launching a Trump-branded digital coin. A Trump family-linked investment vehicle has also stayed active in the sector.
Markets, however, appear more focused on Trump’s nomination of Kevin Warsh to lead the US Federal Reserve. Warsh is seen as favouring higher interest rates, which tend to sap enthusiasm for riskier assets like crypto.
Commenting on the selloff, Ipek Ozkardeskaya of Swissquote said Bitcoin is “getting hammered” alongside tech stocks, with its drop below $60,000 testing the long-held idea that prices wouldn’t fall below mining costs. “There’s no convincing answer to what the bottom might be,” she warned, adding that the downturn is a reminder that Bitcoin remains volatile, risky and highly speculative.
Other major tokens such as Ethereum and Solana have also fallen sharply, with more than $2 trillion wiped from the crypto market since October. Some analysts now warn that Bitcoin could yet fall below $40,000.
7.15am: FTSE 100 to start lower
The FTSE 100 has been predicted to open in the red on Friday, taking its cue from a sharp fall on Wall Street as tech giants stumbled and signs of weakness in the labour market rattled investors.
Futures have indicated a 66-point decline for the London index, adding to Thursday's 0.9% fall. It closed at a fresh record high on Wednesday.
Overnight, the Nasdaq plunged 1.6%, the Dow Jones fell 1.2%, and the S&P 500 slipped 1.2%, with tech stocks bearing the brunt of the selling as investors digested Alphabet’s massive AI investment plan.
Alphabet-owned Google is increasing its capital expenditure to $185 billion, more than double last year’s total.
After the close, Amazon's share price plunged more than 10%, erasing $250 billion from its market value, after the company unveiled plans to spend a record $200 billion this year, largely on artificial intelligence.
Also putting pressure on US stocks, Wells Fargo analysts said the US labour market remains fragile, after the December JOLTS report. Job openings dropped to 6.5 million, down roughly 10% from a year ago, signalling that a rebound in hiring is not yet underway.
Asian markets are also mostly lower this morning. Tokyo's Nikkei is bucking the trend, up 0.8% as trade winds up for the day. Shanghai's SSE Composite is down 0.2%, and the Hang Seng in Hong Kong is down 1.3%. Seoul's Kospi is 1.3% lower, and the ASX 200 in Sydney closed 2% lower.