S&P 500 SPX / US500

The S&P 500 is holding firm as buyers are defending key support — structure is remaining constructive above the 50-day moving average.

The S&P 500 is remaining above its 50-day moving average, preserving a constructive medium-term structure after yesterday’s 0.77% gain to 6,890. Buyers are actively defending the 6,800 support region — a level that is coinciding with the 50-day EMA — and the index is maintaining its broader uptrend despite persistent headwinds from tariff policy uncertainty and a Federal Reserve that is showing no urgency to cut rates. The AI investment narrative is proving to be a powerful catalyst for momentum, with the Meta–AMD deal is reinforcing the view that enterprise technology spending is remaining structurally robust even as the macro environment is creating caution.

Nasdaq 100 NDX / US100

The Nasdaq 100 is extending its rebound on tech strength — renewed bullish momentum is building above short-term moving averages.

The Nasdaq 100 is extending its rebound, outperforming broader indices with a 1.04% gain as technology shares are leading the recovery. The Meta–AMD AI infrastructure investment story is acting as a powerful sector-wide catalyst, lifting semiconductor stocks, cloud computing names, and AI-adjacent software companies broadly. The index is continuing to trade above its short-term moving averages, signaling renewed bullish momentum after a period of elevated volatility driven by tariff uncertainty and AI regulatory concerns.

The RSI is recovering from neutral territory, suggesting that upside traction is improving and that the recent corrective phase is running out of momentum. However, the index is still navigating a complex macro backdrop — tariff policy risks are weighing on hardware companies with significant Asian supply chain exposure, while the Fed’s higher-for-longer stance is creating a discount-rate headwind for high-multiple growth stocks. A move above recent highs would confirm trend continuation and likely trigger algorithmic momentum-buying, while downside support is resting near the 50-day EMA.

FTSE 100 UKX / UK100

The FTSE 100 is consolidating amid trade uncertainty — price is holding above key MAs but is remaining below recent peaks with momentum flattening.

The FTSE 100 is trading in a consolidation range below recent peaks, with momentum indicators flattening as the index is navigating a complex set of cross-currents. Strong corporate earnings — most notably from HSBC, which is lifting the financials sector — are providing a partial offset to broader trade uncertainty concerns. The index is holding above its key moving averages, keeping the broader trend technically intact, though a lack of decisive directional catalyst is keeping price action contained.

On the negative side, the easing of U.S.–Iran tensions is triggering a correction in crude oil prices, which is weighing on the FTSE’s significant energy sector weighting (BP, Shell). Meanwhile, U.S. tariff policy uncertainty — particularly the risk of further measures targeting UK goods — is creating caution among export-facing industrials and consumer companies. ECB President Lagarde’s remarks and U.S. weekly jobless claims data are both serving as near-term catalysts that could influence the risk appetite feeding into European equities. BOE rate cut expectations are continuing to provide a floor for domestic-oriented names, but global headwinds are preventing a sustained break above resistance.