Equity snapshot (indices)

Equities are back in favor this week. Performance this week at a glance in chart & table -

S&P 500 -

• S&P broke into new all-time high as ECB declared to increase purchase rate for May and June.
  
• Housing data roared into positive in April with building permits growing to 1.143 million from 1.042 million and Housing starts to 1.135 million from 0.926 million in March.
  
  
• S&P 500 is currently trading at 2128. Immediate support lies at 1980, 2040 and resistance 2125, 2164.

FTSE -

• FTSE gained amid weaker than expected inflation. Lower inflation means longer accommodative monetary policies.

• FTSE is currently trading at 6993, struggling to clear 7000 mark. Immediate support lies at 6850, 6700 and resistance at 7120.
  

DAX -

• DAX gained further as ECB official hinted at higher purchase rate in May and June due to seasonal factor.

• Bears gave up due to bullish indication from ECB commentary. Upside target is coming at 12600-12700 with stop at 11100.

• DAX is currently trading at 11796. Immediate support lies at 11250 and resistance at 12080 around.

EuroStxx50 -

• Stocks across Europe are all trading in green, as dovish comments from ECB official provided the necessary support.

• Germany is up (+1.85%), France's CAC40 is up (+1.9%), Italy's FTSE MIB is up (+1.66%) and Spain's IBEX is up (+1.11%).

• EuroStxx50 is currently trading at 3654, up 1.6% today. Support lies at 3450, 3300 and resistance at 3760

Nikkei -

• Nikkei has diminished bearish bias and likely to move towards its bullish target of 20800 area.

• Nikkei is currently trading at 20130. Key support is at 19500, 19000 and resistance at 20300 area.