Nasdaq 100, S&P 500 and FTSE 100 all make gains after Fed decision
Indices are pushing higher now that the Fed has cut rates, with investors cheered by the prospect of looser monetary policy combined with a still-strong US economy.
Nasdaq 100 rallies after Fed decision
The Federal Reserve (Fed) decision last night gave the Nasdaq 100 a shove higher, after some initial volatility around the decision itself.
The index has pushed to its highest level in almost four weeks, and the late August highs around 19,900 come into view. Beyond this the record high from early July at 20,760 become the next target to watch.
Sellers have been unable to assert control here over the past three weeks, and a move below 19,200 would be needed to suggest that a fresh move lower could be underway.
S&P 500 hits new record
The S&P 500 index surged to a new record high yesterday in the wake of the Fed decision, though it struggled after that.
Like other indices, however, it has succeeded in pushing higher from the overnight low, and looks poised for additional upside for the time being.
Over the past two weeks even brief intraday weakness has been met with buying. A close back below 5600 might signal that a pullback was at hand, though the longer-term uptrend is still in place.
FTSE 100 pushes higher
The FTSE 100 index has seen plenty of choppiness over the past two weeks, but the lows have been firmly bought each day.
Early gains this morning seem to put the bulls on the front foot, which would then open the way to the 8400 highs from late July and late August. Beyond this lies the May peak at 8479.
Sellers will need a close back below 8250 to open the way to the 8150 low from early September.
The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.
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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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.
