Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 70% 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 see strong recovery rallies but FTSE 100 stays range bound

Nasdaq 100, S&P 500 see strong recovery rallies but FTSE 100 stays range bound as probability of 50 bps Fed rate cut increases.

FTSE index Source: Adobe images

Nasdaq 100 ends week on a high

This week the Nasdaq 100 rallied by nearly 6%, regaining most of its 22 August-to-September losses. It is getting ever closer to its July-to-September downtrend line at 19,495 which may cap, together with the 19,631 late August high. If overcome, the August peak at 19,938 will be back in focus.

Potential slips 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 continues its advance

The S&P 500 recovers swiftly from last week's sharp drop to 5,385 with the index heading back up towards its 5,655-to-5,669 July and early September highs.

Minor support can be found around the 5,545 late August low and the 55-day moving average (SMA) at 5,515.

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

FTSE 100 in the doldrums

The FTSE 100 continues to oscillate around the 55 day SMA at 8,239, having come off Thursday's 8,306 high. Further range trading seems to be at hand.

Minor support can be spotted at Wednesday’s 8,169 low and major support at its early September 8,153 low.

Only a rise above Thursday's 8,306 and the late June 8,314 highs could put the 8,374 mid-August peak back on the cards.

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.

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

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. 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.

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.