FTSE 100 and DAX still falling but S&P 500 rises after strong earnings

European markets are struggling to move higher, but strong earnings from big tech stocks have given the S&P 500 a lift.

FTSE 100 still under pressure

The FTSE 100 has yet to see much of a rebound, and continues to push lower, although yesterday’s dip below 6000 was bought.

If the price can move back above 6050 then another challenge of 6150 may develop, and gains above this level would help to revive a more bullish view. A renewed push below 6000 restores the advantage to the bears.

DAX bounces from 12,300

Thursday saw heavy losses for the DAX, which was pushed to its lowest level since the beginning of the month. However, for now, it has held 12,300, bouncing twice from this level.

Further gains above 12,550 will target trendline resistance from the late-July peak above 13,300, and a more bullish view will need to see the price clear 12,900 to both move above this trendline and above Wednesday’s lower high.

S&P 500 rallies after touching 3200

Tech earnings last night provided the catalyst for the S&P 500 to bounce once again from around 3200.

Having seen a progression of higher highs over the past week, we look for the index to push on above 3280 and resume the broader uptrend. Sellers will need to drive the price back to 3200, and then push it below this level, to open the way to further downside.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

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 40
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

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


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices 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.