FTSE 100, DAX 40 and S&P 500 steady after NVIDIA earnings
NVIDIA's earnings last night pushed the stock lower, but indices have held up relatively well, with the FTSE 100 and DAX 40 rising in early trading.
FTSE 100 reverses Wednesday’s losses
The FTSE 100 index has pushed higher in early trading, reversing course after Wednesday’s losses.
Gains since the end of July have been capped at the 8400 level, so a close above this opens the way to the record highs from May at 8500.
A close back below 8300 might signal that a new turn lower has begun.
DAX 40 makes gains
Despite finishing close to the lows yesterday, the DAX 40 index has managed to push higher in early trading this morning.
The May record high at 18,935 now looms, while a move above this takes the index to new record highs.
So far there has been so sign of any sustained weakness. The index would need a close below 18,500 at least to raise the possibility of a short-term pullback.
S&P 500 drops back below 5600
Gains have stalled over the past week, with the S&P 500 index struggling to push on above 5630 before slipping back below this level yesterday.
After the impressive bounce from the August lows such consolidation is not surprising. While it has created a lower high from the July record, for the moment losses are limited. A close below 5500 and the 50-day simple moving average (SMA) might signal that some more weakness is ahead.
Alternately, a rally back above 5630 would put the price back on course to test the July highs.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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 and quarterly summary.
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
- 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
- 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
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
