A Record Low for the 1-Year Loan Prime Rate leads to Steady Stock Indices as PBOC steps in

Stock Market Update: FTSE 100, Asian Stock Indices, and Nasdaq 100

 

FTSE 100

 

After six days of falling prices, the FTSE 100 found some support last week. It didn’t change much on Monday because there wasn’t much happening in the economy.

 

Asian Stock Indices

 

The People’s Bank of China made a change to its monetary policy, but it didn’t really affect Asian stock indices. Traders were hoping for a bigger change, so it was a bit disappointing. This means that the picture for stocks is a bit mixed right now.

 

Support and Resistance

 

The FTSE 100 is expected to trade in a range above a certain level of support. There are some levels of resistance that might make it harder for the index to go up.

 

French CAC 40 Index

 

Last week, the French CAC 40 index went down a lot, but then it went back up. This happened because people were worried about China’s economy, US interest rates going up, and a big company in China filing for bankruptcy protection in New York.

 

Sideways Trading

 

On Monday, the French CAC 40 index is expected to keep trading around a certain level. There is a smaller level of support that might help it stay up.

 

Nasdaq 100

 

The Nasdaq 100 went down last week because US interest rates were going up. It reached a low point and then stayed there. This week, there will be a big event called the Jackson Hole symposium that might affect the Nasdaq 100.

 

Support and Resistance

 

There are certain levels that might help the Nasdaq 100 stay up. There is also a smaller level of resistance that might make it harder for the index to go up.