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FTSE 100 Surges to New Heights as Investor Confidence Soars

FTSE 100 new heights

The FTSE 100 hits record heights, the DAX 40 rebounds, and the S&P 500 resumes ascent. Global markets are buoyed by strong earnings and investor optimism.

The FTSE 100 surged to another record high today, driven by foreign investors buying the undervalued UK blue-chip index. Trading at unprecedented levels, the index has breached the 8,200 zone, with analysts now eyeing the 8,300 mark as the next potential milestone. This surge comes amidst a backdrop of continued economic recovery and robust investor sentiment.

The latest gains follow a sustained growth pattern, with the FTSE 100 showing remarkable resilience despite global economic uncertainties. Analysts point to the index’s strong performance as a testament to the underlying strength of the UK market, coupled with favorable macroeconomic factors.

Support for the FTSE 100 remains robust, with key levels identified between the early-to-mid-April highs and Wednesday’s low at 8,046 to 8,003. Technical indicators suggest further upward momentum, with the 161.8% Fibonacci extension of the March-to-June 2020 advance projecting higher from the October 2020 low.

FTSE 100 Surges to New Heights as Investor Confidence Soars

Meanwhile, in continental Europe, the DAX 40 rebounded from Thursday’s low, buoyed by better-than-expected US earnings. Despite initial setbacks following weaker-than-expected preliminary Q1 GDP data, the DAX 40 recovered overnight, signaling renewed investor confidence.

A rise above Thursday’s 18,080 high could pave the way for further gains, with targets set at 18,238 and the 18,500 regions. Yesterday’s low found support along the 55-day simple moving average (SMA) at 17,815, indicating solid technical support levels.

The S&P 500 resumed its upward trajectory in the United States after a brief dip in disappointing Q1 preliminary GDP data. Strong earnings reports from tech giants like Alphabet, Microsoft, and Snap propelled the index higher, reaffirming investor optimism in the US market.

The S&P 500 is approaching the 55-day SMA at 5,114, with the April downtrend line looming at 5,146. Support levels are seen around Monday’s high of 5,039, providing a cushion against potential downturns.

Overall, global markets continue to show resilience and upward momentum, supported by strong economic fundamentals and positive corporate earnings. As investors navigate through volatile conditions, the focus remains on key technical levels and macroeconomic indicators for further insights into market direction.

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