FTSE 100, S&P 500 and Nikkei 225 edge higher after recent losses
The selling intensified across indices yesterday, but Tesla earnings helped support sentiment and there has been some tentative buying in early trading.
FTSE 100 edges higher
The FTSE 100 index fell back towards last week’s lows yesterday, but has recovered in early trading.
If the price can stabilise today another push back towards 8400 may develop, though the range of September and October from 8150 to 8400 remains in place. The uptrend of early 2024 has given way to consolidation, but the index has avoided a sustained move to the downside.
Nikkei 225 hits four-week low
The Nikkei 225 index has witnessed a pullback from the October highs, wiping out most of the gains made from the late September low.
It has also fallen below trendline support from the August low, a notable bearish development. This could see the pullback intensify, potentially targeting 37,300 and the late September low, while beyond this lies the September low just above 35,000.
It would need a move back above 38,600 to see the price recover the trendline.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
