Dow and Nasdaq 100 rally continues, and Nikkei 225 moves back to 40,000
Indices have seen further gains, with risk appetite bolstered by Netflix’s earnings and news of more support for equities in China.
Dow rally continues
Wednesday saw the Dow Jones index hit its highest level since mid-December.
The rebound from 42,000 is intact, and a push back to the 45,000 record high looks likely over time. So far sellers have been unable to establish control, with Tuesday’s weakness being rapidly bought.
Nasdaq 100 at one-month high
Results from Netflix gave the Nasdaq 100 index fresh momentum and it is now testing the late December high around 21,800. Beyond this lies the record high at 22,100.
As with the Dow, buyers pounced on some intraday weakness on Tuesday, leaving the upward move in place.
Nikkei 225 recovers 40,000 level
The risk-on move across global stock markets has helped lift the Nikkei 225 back to 40,000.
There had been a firm defence of the area around 38,250 last week, and this provided the foundation for a continued move higher. Beyond 40,000 lies the late December peak at 40,419, and from there the next target becomes the July record high at 42,500.
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