FTSE 100, DAX and S&P 500 ease off after recent gains

Indices have enjoyed a good week overall, but forward momentum is fading as markets prepare for the US jobs report.

FTSE 100 rally pauses for breath

The FTSE 100 rally has eased off over the past 36 hours, with the index dropping back since the high early on Wednesday at 7540.

So far the 7470 level has contained any more serious downside, and if this is breached then the previous higher low on Tuesday at 7400 comes into play as possible support. A push above 7540 brings 7635 and then 7700 into play.

DAX stuck below 13,600

The DAX shot higher over the first three days of the week, but having recovered the 13,600 level it has seen upside progress wane.

However, given that the previous higher low this week is down at 13,250, there is plenty of room to the downside for the index to establish a new higher low. A close above 13,600 leaves only 13,644 before the price moves back into record high territory.

S&P 500 girds up for a new rally

The price action over the past 24 hours suggests the S&P 500 is preparing for a new leg higher, once non-farm payrolls (NFP) are out of the way.

A record high early on Thursday was followed up by small losses, but losses are contained around 3340. Below this 3310 and then 3290 come into view.


This information has been prepared by IG, a trading name of IG 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.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 30
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Change
Sell
Buy
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

All trading involves risk and losses can exceed deposits. Trading CFDs may not be suitable for everyone so please ensure that you fully understand the risks involved. All trading involves risk and losses can exceed deposits.