market report
The DAX is likely to start the new trading week with significant price gains. Good guidance comes from the stock exchanges in New York and Japan: Hopes for an AI boom continue to support the markets.
The new stock market week is off to a good start on the German stock market. Pre-market indications suggest that the DAX is about to have a friendly start to trading. The broker IG currently estimates German standard values 0.7 percent higher at 16,676 points.
On Thursday and Friday, the DAX closed the downward price gap that opened in the middle of the week (16,609 to 16,582 points). This took most of the downward pressure off the German standard values. In order to sustainably improve the technical chart situation, the DAX would have to overcome its high of 16,839 points on January 11th.
Tailwind for DAX trading comes from the overseas stock exchanges in the morning. A rally in important technology stocks pushed the US stock exchanges into positive territory at the end of the week. The Dow Jones index of standard stocks closed 1.1 percent higher at 37,863 points on Friday. The technology-heavy Nasdaq advanced 1.7 percent to 15,310 points. The broad S&P 500 gained 1.2 percent to 4,839 points.
The good mood of investors after the optimistic forecast from the Taiwanese chip giant TSMC on Thursday continued. The company expects sales growth of around 25 percent thanks to continued demand for chips for artificial intelligence (AI).
“The AI boom indeed appears to be the next big wave of technological change,” said Aaron Clark, portfolio manager at investment firm GW&K. “However, it is still a little too early to determine the extent and timing of the impact.”
The AI boom is also driving the markets in Japan higher at the beginning of the week. The Nikkei index, which includes 225 stocks, was 1.6 percent higher at 36,547 points at the close of trading in Tokyo. Although the Nikkei could suffer a short-term setback, the upward trend is intact and an exploration of the 37,000 point mark is likely in the coming weeks, said Kelvin Wong from broker Oanda.
On the other hand, the Chinese central bank’s decision not to cut interest rates is sending the Chinese stock markets into the red. The Shanghai stock exchange is currently losing 1.2 percent.
The dollar is under slight pressure in Asian foreign exchange trading. At the same time, the euro rose by 0.1 percent to 1.0901 dollars. A troy ounce of gold costs just under $2,023 this morning, 0.2 percent less.
Among the individual stocks on the German stock market, the RTL share listed in the MDAX could be worth a look today. The streaming platform RTL+ was not available last night. Due to an “extremely high level of simultaneous usage”, several systems were overloaded despite all the preparations, according to a spokeswoman for the private broadcasting group. We are working on fixing the problem.
According to Microsoft, hackers with connections to the Russian government have gained access to some of the company’s high-ranking managers’ emails. The attack began in November and was discovered a week ago, Microsoft said. The hackers also downloaded some documents from email attachments.
The $3.8 billion takeover of US low-cost airline Spirit by competitor Jetblue is entering the next round. Both companies filed an appeal against the court blocking the project on Friday (local time). No reasons were given in the one-sentence statement. Many analysts had already ticked off the takeover.
The traditional US department store chain Macy’s rejects the offer from the investor group Arkhouse and Brigade Capital to privatize the company for $5.8 billion. Macys said the information provided “did not address the board’s concerns regarding the ability of Arkhouse and Brigade to finance the proposed transaction.”