Nasdaq 100, S&P 500 and FTSE 100 advances pause ahead of Fed rate cut
Nasdaq 100, S&P 500 and FTSE 100 advances pause ahead of likely 50 bps Federal Reserve rate cut announcement at 7.00pm (BST).
Nasdaq 100 side-lined in low volatility ahead of Fed rate cut
The Nasdaq 100 remains side-lined ahead of Wednesday’s probable first Federal Reserve (Fed) interest rate cut in over four years, having last week rallied by nearly 6%, and having regained practically all of its 22 August-to-September losses.
The index continues to flirt with its July-to-September downtrend line at 19,435 which currently acts a support. Above Tuesday’s high lies the 19,631 late August high. If this level were to be bettered, the August peak at 19,938 would be back in sight.
Potential slips below Monday’s 19,288 low may find support around the late August 19,081 low.
S&P 500 trades in all-time highs
The S&P 500 is on track for its eighth straight day of advancing prices, having on made a new record high on Tuesday at 5671. Above it beckons the 5700 region.
Minor support within the 5564-to-5524 late June and early August highs sits at the 5545 late August low and the 55-day moving average (SMA) at 5523.
FTSE 100 trades with a slight upside bias
The FTSE 100 now trades above its 55-day SMA at 8247, reaching a near two-week high at 8352. Further up lies the 8374 mid-August peak, followed by the 8404-to-8419 early and late August highs.
Minor support below the 55-day SMA at 8247 can be spotted at Wednesday’s 8169 low and major support at the early September 8153 low.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
