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.
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