FTSE 100, DAX and Nasdaq 100 higher on tariff exemption hopes
Reports that the US would exempt some products such as smartphones and laptops have bolstered risk appetite, particularly in tech stocks.
FTSE 100 edges higher
Last week saw the FTSE 100 index surge from 7600 to 8200, while a drop back on Thursday found some support around 7800. A close above 8200 would help to support the bullish view in the short-term, and then the next target becomes the 8470 low from mid-March.
A reversal back below 8000 puts the sellers back in charge, targeting 7800 and then 7600.
DAX makes small gains
Despite all the volatility the DAX 40 index has continued to recover from the lows of a week ago. Notably Thursday and Friday last week both saw buyers step in around 20,200. Any sustained move lower needs to clear this zone of support. In the short-term continued gains target last Wednesday’s high at 21,530.
Nasdaq 100 back at 19,000
This Nasdaq 100 index fell back on Thursday after Wednesday’s surge, but then found buyers around 18,000. Gains have continued since then, and now the buyers are watching for a close back above Wednesday’s high at 19,200. This would then open the way for a push back towards the late March high at 20,350.
Sellers will be watching for a turn lower back below 18,500 that could potentially signal the start of a new leg lower.
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