Market report
Status: 05.01.2022 07:31 a.m.
The DAX could face the first day of losses in the new year. The price hunt at the turn of the year has come to an end in the USA, especially for technology stocks. Investors took profits.
The DAX should see small negative signs in the morning. According to pre-market indications, the index will start trading at 16,080 points and thus lose 0.4 percent compared to the XETRA close. The mark of 16,000 points remains unchanged for the time being.
US stock exchanges are running out of steam
On Wall Street, after turbulent trading with new record highs, in the end only the Dow Jones index made a plus. It gained 0.6 percent to 36,800 points. After rising to just under 4819 points, the S&P 500 fell 0.1 percent to 4794 points. The technology-heavy Nasdaq 100 lost a significant 1.4 percent to 16,280 points. In after-hours US trading, prices continued to decline. Weak industrial data in particular caused the stock market momentum to flag. The much-noticed ISM sentiment data from US industry in December turned out to be weaker than expected.
Asian stock exchanges with an unclear direction
In Asia, the morning markets show a mixed picture: The Japanese Nikkei index closed 0.1 percent higher at 29,332 points. The Shanghai Stock Exchange lost 1.2 percent. The index of the most important companies in Shanghai and Shenzen lost 0.7 percent. The HangSeng Index in Hong Kong also lost a significant 1.2 percent.
Euro unchanged, oil cheaper
On the foreign exchange market, the euro continues to work its way off the $ 1.13 mark. In the morning, the common currency is quoted at 1.1292 dollars, just below the hurdle that has been contested for weeks.
After significant increases yesterday, prices on the oil market will fall slightly in the morning. A barrel of North Sea Brent currently costs $ 79.80, 0.2 percent less. The oil states of the alliance OPEC + are increasing their production volume as planned. According to the oil cartel, an additional 400,000 barrels (159 liters each) per day will be produced in February. The representatives from the 23 member states of the association are thus continuing the previous strategy of a monthly increase in production. The price of the troy ounce of gold has risen slightly to $ 1,815.
BMW with record sales
In the DAX, the focus could be on BMW shares in the morning. Last year, the Munich-based car company sold more than 2.2 million BMW brand cars for the first time – despite the global shortage of semiconductors. Sales Director Pieter Nota told the German Press Agency on Tuesday: “This means that we are also number one in the global premium segment with the BMW brand – and by a considerable margin.” An important growth driver in the group was the ramp-up of e-mobility, according to Nota. With the delivery of more than 100,000 fully electric vehicles, the announced goal has been achieved.
Toyota overtakes GM in the USA
Persistent chip shortages and supply chain issues have slowed US auto sales in 2021. The largest US manufacturer General Motors (GM) suffered a particularly sharp drop of 43 percent in the final quarter and for the year as a whole lost its position as the strongest sales provider in its home market for the first time in 90 years. With around 2.3 million cars sold in 2021 as a whole, the Japanese industry giant Toyota sold around 114,000 more new cars to US customers than GM. Overall, experts estimate that around 15 million cars will be sold on the US market in 2021 – between 2015 and 2019 the average was 17.3 million.
Sony is planning an electric car
The consumer electronics group Sony is apparently getting seriously into the e-car market. Sony presented a second electric car prototype at the CES technology fair in Las Vegas and is founding a mobility subsidiary in the spring. A commercial launch of their own car is being examined. Sony presented the first prototype with the name “Vision-S” at the beginning of 2020 at the CES.
Deutsche Bank with China plans
According to a media report, Deutsche Bank is in talks with the wealth management unit of Postal Savings Bank of China (PSBC) about the establishment of a joint venture. The German money house is aiming for a majority stake in the new company, according to the financial magazine Caixin am Morgen. No agreement has yet been reached. Deutsche Bank initially did not respond to Caixin’s request. Financial institutions have been rushing into the vast wealth management market of the world’s second largest economy since China opened the sector to foreign investors in 2019.
Criticism of Tesla because of its China business
The US electric car company has come under fire for opening a new store in the Xinjiang region of China. According to human rights activists and Western governments, Beijing is using so-called re-education camps and forced labor to suppress the Muslim Uyghur minority. Republican US Senator Marco Rubio criticized the opening of Tesla’s new store in Xinjiang’s capital, Urumqi.