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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.

Nasdaq 100, S&P 500 and FTSE 100 advances pause ahead of Fed rate cut

Nasdaq 100, S&P 500 and FTSE 100 advances pause ahead of likely 50 bps Federal Reserve rate cut announcement at 7.00pm (BST).

Indices Source: Adobe images

Nasdaq 100 side-lined in low volatility ahead of Fed rate cut

The Nasdaq 100 remains side-lined ahead of Wednesday’s probable first Federal Reserve (Fed) interest rate cut in over four years, having last week rallied by nearly 6%, and having regained practically all of its 22 August-to-September losses.

The index continues to flirt with its July-to-September downtrend line at 19,435 which currently acts a support. Above Tuesday’s high lies the 19,631 late August high. If this level were to be bettered, the August peak at 19,938 would be back in sight.

Potential slips below Monday’s 19,288 low may find support around the late August 19,081 low.

Nasdaq 100 daily chart Source: IT-Finance.com
Nasdaq 100 daily chart Source: IT-Finance.com

S&P 500 trades in all-time highs

The S&P 500 is on track for its eighth straight day of advancing prices, having on made a new record high on Tuesday at 5671. Above it beckons the 5700 region.

Minor support within the 5564-to-5524 late June and early August highs sits at the 5545 late August low and the 55-day moving average (SMA) at 5523.

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

FTSE 100 trades with a slight upside bias

The FTSE 100 now trades above its 55-day SMA at 8247, reaching a near two-week high at 8352. Further up lies the 8374 mid-August peak, followed by the 8404-to-8419 early and late August highs.

Minor support below the 55-day SMA at 8247 can be spotted at Wednesday’s 8169 low and major support at the early September 8153 low.

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