Market report
Status: 08/18/2021 7:24 a.m.
Despite the increasing number of infections and the precarious situation in Afghanistan, the DAX is likely to start above the previous day’s closing rate. Investors are also bracing themselves against falling prices on Wall Street.
According to pre-market indications, the leading German index should start trading this morning at 15,940 points. That would mean a gain of around 0.3 percent compared to yesterday’s closing level. He would have completely compensated for the temporary setback to around 15,800 points in Tuesday trading.
Wall Street with losses
The specifications from overseas are mixed in the morning. On the US stock exchanges, investors stepped on the brakes in the evening. Weak US retail data and worries about a further economic recovery in the US drove the US stock exchanges from their record price. The home improvement chain Home Depot also failed to meet expectations with its quarterly results for the first time in two years, sending its shares downhill. The Dow Jones index of standard values lost just under one percent to 35,288 points in New York on Tuesday. The broader S&P 500 also fell by just under one percent to 4438 meters. The index of the technology exchange Nasdaq also slipped by more than one percent.
Asian exchanges draw hope
In contrast, the Asian markets tend to pick up again in the morning. According to market observers, hopes of a quick recovery of the economy are gaining ground in the face of rising vaccination rates. The Japanese Nikkei index is 0.6 percent higher at 27,580 points. The Shanghai stock exchange gains 0.5 percent.
Japan increases exports
Good export figures from Japan are also encouraging in the morning: Japan’s exports continued to recover strongly in July. Driven by high demand for automobiles and auto parts in the US and for chips and semiconductor equipment in China and other Asian countries, the value of exports rose 37 percent compared to the same month last year. Japan’s exports increased for the fifth month in a row.
Euro still under pressure
On the foreign exchange market, the euro continues to have a difficult time against the US dollar. The common currency can only stay just above the $ 1.17 mark in the morning and is trading at $ 1.1716. After yesterday’s decline, oil prices have stabilized again. A barrel of North Sea Brent currently costs just under $ 69. The troy ounce of gold was trading at $ 1,790 in early trading.
Focus on car values
Shares in German manufacturers could react to signals from Chancellor Angela Merkel’s “car summit”. Representatives from the industry, trade unions, federal states and the grand coalition are to take part in the video conference (10.30 a.m.) just under six weeks before the federal election. In order to get more electric cars on the road, the federal government is relying on expanding the charging network and buying incentives, among other things. According to the latest proposals by the EU Commission, the emission of climate-damaging carbon dioxide (CO2) from new cars should decrease more sharply by 2030 than currently planned.
Alcon back in business
The eye care company returned to profitability in the second quarter. The bottom line was an increase of $ 151 million after a loss of $ 422 million in the previous year. The Swiss-American company increased its sales in the reporting period by 75 percent to 2.1 billion dollars. For the full year, the company raised its revenue forecast to 8.0 to 8.2 from $ 7.8 to 8.0 billion.