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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

FTSE 100, DAX 40 on track for new record highs as S&P 500 heads towards 6,100​

​​​FTSE 100, DAX 40 on track for new record highs as S&P 500 heads towards 6,100​ on bullish post US presidential inauguration sentiment.​

DAX 40 Source: Adobe images

​​​FTSE 100 trades close to record high

​The FTSE 100's strong rally has taken it to a record high at 8,575 on Wednesday morning before giving back some of its overnight gains.

​Above 8,575 lies the 8,600 region while minor support sits at Friday's 8,534 high and at Monday and Tuesday's lows at 8,484-to-8,483. Further down lies the May peak at 8,479 is expected to offer support ahead of the major 8,419-to-8,372 support area, made up of the July-to-December highs.

FTSE 100 chart Source: IT-Finance.com
FTSE 100 chart Source: IT-Finance.com

​DAX 40 on track for sixth straight day of gains

​The German DAX 40 index is on track to hit its sixth straight all-time high on Wednesday morning with the 21,200 region being next in line ahead of the 21,500 mark.

​Minor support below Monday's 21,054 high sits between Friday's high and Tuesday's low at 20,926-to-20,863. Further down sits the 16 January 20,705 high and Thursday's 20,576 low ahead of the 20,527 December peak.

DAX 40 chart Source: IT-Finance.com
DAX 40 chart Source: IT-Finance.com

​S&P 500 is gunning for record high above 6,100 mark

​The S&P 500 is trading in one-month highs and is gunning for its near 6,100 December record high, its 57th in 2024. The index is also on track for its fourth consecutive day of gains.

​Above the 6,100 mark lies the 6,200 level as a potential upside target.

​Immediate support can be spotted at the 26 December high at 6,044 ahead of the early January high at 6,018 and the psychological 6,000 mark.​​

S&P 500 chart Source: IT-Finance.com
S&P 500 chart Source: IT-Finance.com

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.

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