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Indices weekly outlook: FTSE holds steady ahead of UK data after tech volatility

Last week saw the technology sector take a plunge, before dip buyers stepped in on Friday to save the day, helping to fuel a late rally on Wall Street. In Europe, the major indices also came off their earlier lows to close either flat or in the positive. In the week ahead, the global macro calendar is lighter, with US market closed on Tuesday in observance of Veterans Day.

Fawad Razaqzada
Fawad Razaqzada

DAX, FTSE and S&P 500 forecast: Major indices bounce back as risk appetite improves

Investors are also expecting further rate cuts from major central banks, even if there was a bit of hawkish repricing of US interest rates following Powell’s comments at the FOMC presser last week. Still, easing of monetary policy is driving stocks higher, while the recent extension of a trade truce between the US and China means appetite for AI-related stocks remains strong, with earnings also largely being positive this reporting season.