Risk appetite rebounded sharply yesterday after the tech-dominated NASDAQ surged 3.7% marking its biggest gain in 4 months, while the Dow Jones Industrial pulled back below 32000, despite setting new record highs earlier in the trading session. Looking ahead, the $1.9 trillion stimulus package is set for final approval today in the House of Congress, but more importantly, today’s US CPI data at 1330 GMT and the 10-year bond auction tonight are key for stocks as weaker inflation and a firm auction could boost equities with 32100 as resistance while the 31600 level acts as key pivotal support for short-term traders.
Support: 31720 / 31600
Resistance: 31800 / 32015 / 32140
