Nasdaq 100 and FTSE 100 hold steady ahead of FOMC decision
US tech stocks dropped sharply yesterday but have recovered slightly, while the FTSE 100 is holding on to recent gains.
Nasdaq 100
Hopes of a continued rebound were negated yesterday was the Nasdaq 100 index slumped, giving back a chunk of the gains made since the low of last week.
While the selling has paused overnight, a close back below 19,300 would put further pressure on the index and suggest a renewed move to the downside. This might then target the September lows at 18,320 in the first instance. A close back above 19,800 is needed to put the buyers back in charge.
FTSE 100
The FTSE 100 index managed to eke out a small gain yesterday, leaving the bounce from last week’s low at 8500 intact.
Further gains target the 8900 highs from the beginning of March, while sellers will be looking for a reversal back below 8600 in order to open the way to a new test of 8500 support.
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.
