FTSE 100, DAX and S&P 500 ease off after recent gains
Indices have enjoyed a good week overall, but forward momentum is fading as markets prepare for the US jobs report.
FTSE 100 rally pauses for breath
The FTSE 100 rally has eased off over the past 36 hours, with the index dropping back since the high early on Wednesday at 7540.
So far the 7470 level has contained any more serious downside, and if this is breached then the previous higher low on Tuesday at 7400 comes into play as possible support. A push above 7540 brings 7635 and then 7700 into play.
DAX stuck below 13,600
The DAX shot higher over the first three days of the week, but having recovered the 13,600 level it has seen upside progress wane.
However, given that the previous higher low this week is down at 13,250, there is plenty of room to the downside for the index to establish a new higher low. A close above 13,600 leaves only 13,644 before the price moves back into record high territory.
S&P 500 girds up for a new rally
The price action over the past 24 hours suggests the S&P 500 is preparing for a new leg higher, once non-farm payrolls (NFP) are out of the way.
A record high early on Thursday was followed up by small losses, but losses are contained around 3340. Below this 3310 and then 3290 come into view.
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.
