FTSE 100, DAX 40 and S&P 500 look to be short-term under pressure

​​Outlook on FTSE 100, DAX 40 and S&P 500 amid ‘US rates higher for longer’ spiel.

2024-05-28 14:30:17Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.04% 🇬🇧GBP: -0....​​The FTSE 100 continues its short-term bearish run and is fast approaching the 8,200 late April high, in the process trading in near one-month lows. Further, more significant, support can be spotted in the 8,095 to 8,017 region, made up of the early and mid-April highs and early May low.

​Last week the S&P 500 swiftly came off its record high at 5,343 and slid by over a percent to 5,257 as strong US flash PMI data increased expectations that interest rates will remain higher for longer, leading investors to shy away from risky assets. A fall through Tuesday’s low at 5,281 would put the 5,257 low back on the plate. The risk of this level being revisited remains in play while Tuesday’s high at 5,321 isn’t bettered.

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