FTSE 100 recovers, Nikkei 225 hits record high and Nasdaq 100 rallies on bumper Nvidia earnings
Outlook on FTSE 100, Nikkei 225 and Nasdaq 100 post Fed minutes and excellent Nvidia Q4 earnings.
FTSE 100 recovers amid general risk on mood
The FTSE 100 is bouncing off Wednesday’s 7,623 low amid strong earnings by the likes of Anglo American and Rolls-Royce and has so far risen to 7,700. The next higher early February 7,710 high will need to be exceeded for Tuesday’s 7,750 six-week high to be back in sight. Further up lurks the 7,769 December peak. A support line from the mid-February low at 7,464 comes in at 7,650 ahead of the 55-day simple moving average (SMA) and Wednesday’s low at 7,628 to 7,623.
The Nikkei 225 surges to record high last seen 34 years ago
The Nikkei 225’s swift ascent has taken it to a new record high, above that seen 34 years ago, with the psychological 40,000 mark being in focus. On the way there the 39,500 level may lead to a loss of upside momentum. Potential slips should find support between the 1989 previous record high at 38,957 and last week’s 38,876 high. While this week’s low at 38,104 underpins, the immediate bullish uptrend remains intact.
Nasdaq 100 gets a boost by astonishing Nvidia earnings
The Nasdaq 100 recent corrective move lower to Wednesday’s 17,315 low has been followed by another up leg due to bumper Nvidia earnings with last week’s high at 17,961 being back in sight. Above it beckons the 18,043 current February record high. Minor support can be spotted at Tuesday’s 17,666 high.
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