FTSE 100 and Dow gain as price action becomes choppier

Chris Beauchamp IG

The session has seen mining stocks drive the FTSE 100 higher on some renewed China optimism, while the Dow has outshined tech stocks in early US trading, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Mining stocks drive FTSE 100 higher

“The rebound in Chinese markets is catching the attention this side of the globe, as mining stocks in London lead the way higher. After huge outflows from Chinese markets over the last year, it looks like investor confidence in the outlook is returning, along with hopes of renewed raw material demand.”

Dow rises while tech stocks drop back

“Sector rotation continues in the US, as the Dow Jones manages to make gains even as the Nasdaq 100 comes under some pressure. The rally in stocks has moved into a choppier phase, a change from the relentless gains of Q4 2023, and the sideways price action could intensify as we begin the run towards next week’s Fed decision.”

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Chris Beauchamp

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