As stock indices falter ahead of the FOMC meeting, the FTSE 100 stands resilient, attracting foreign investors despite market turbulence. Hovering near 8,200, it aims for a record high around 8,301. Support rests between 8,046 and 8,003, while resistance may appear near 8,120.
Dow Dips Before FOMC
The Dow Jones Industrial Average retreats to last week’s levels, hitting 37,735 on Tuesday. Elevated inflation concerns, fueled by increased employment costs and slipping consumer confidence, weigh on the index. Key levels to watch are 37,592 and 37,237, with minor resistance near 38,050.
S&P 500 Faces Steep Decline
After weeks of gradual gains, the S&P 500 plunges sharply, reflecting reduced rate cut expectations. Downside targets include 5,000 and 4,990, with resistance at 5,049 and 5,088.