Market report
As of: 25.06.2021 7:42 a.m.
On Wall Street, the major indices remain at record rates. After a turbulent week on the stock market, this is also fueling the buying mood on the German stock market.
The DAX should start with price gains in the last trading day of the week. Banks and brokers currently rate the German standard values 0.2 percent higher at 15,624 points.
The tailwind for the German benchmark index comes from good specifications from the USA and chart technology: the DAX was able to regain its key mark of 15,500 points yesterday.
New record highs in New York
The record hunt started a new round on Wall Street yesterday. Both the most important technology stocks indices and the S&P 500, which tracks the broader market, rose and reached highs in the course of trading.
At the close of trading, the technology-heavy Nasdaq Composite was trading 0.7 percent higher at 14,370 points. The S&P 500 said goodbye with an increase of 0.6 percent to 4266 meters. For the Dow Jones Industrial it went up 1.0 percent to 34,197 points.
Agreement on the infrastructure package
“We have a deal” – it was this tweet from US President Joe Biden that gave prices in New York a major boost. After talks with a group of Democratic and Republican senators, there is apparently an agreement on the trillion dollar infrastructure package.
The joint proposal envisages spending of $ 1.2 trillion over eight years for roads and bridges, for example, but also for broadband, e-car charging points and the power grid.
Exchange rate gains in Tokyo
The price gains on Wall Street and the bipartisan infrastructure agreement of US President Joe Biden are also making investors in Asia invest more vigorously again. Shortly before the close of trading in Tokyo, the Nikkei index, which comprises 225 values, is 0.7 percent higher at 29,081 points.
The euro can make up some ground in Asian forex trading, gaining 0.1 percent to $ 1.1937. The troy ounce of gold is trading a little higher at $ 1,776.
Growing demand at Eurowings
In the morning, the Lufthansa share comes into focus on the German stock market. The Lufthansa subsidiary Eurowings is seeing increasing demand. “On weekends, many Eurowings flights on popular connections such as Spain, Italy or Greece are already fully booked, there are still more free places on weekdays,” said Eurowings boss Jens Bischof of the Düsseldorf “Rheinische Post”. For midsummer, it is becoming apparent that more than 80 jets will be very well utilized.
Nike with surprisingly good numbers
Adidas competitor Nike has profited strongly from the lifting of the corona restrictions in the USA and has exceeded analysts’ expectations. Sales in North America shot up 141 percent to just under $ 5.4 billion in the past quarter. Worldwide revenues of 12.3 billion dollars were almost twice as high as a year earlier. Bottom line, Nike earned $ 1.5 billion after a loss of $ 790 million in the year-ago quarter. The share rose at times in after-hours trading by around twelve percent.
Fed gives US banks a boost
Big banks in the US don’t have to keep their money together. The US Federal Reserve (Fed) no longer considers this necessary in view of the strong financial situation of the institutes, as it announced yesterday after the US market closed. Experts are now expecting a plethora of announcements about dividend increases and share buybacks.
Microsoft gives a first look at the new Windows 11
After six years, Microsoft has presented a new generation of its Windows PC operating system. One of the innovations in Windows 11 is that Microsoft’s Teams software for video conferencing and collaboration is directly integrated in the office. The in-house games subscription, Games Pass, is also installed via a new Xbox app. During the pandemic, the use of video conferencing and computer games has risen sharply.