market report
After the strong start to November, the German stock market has been at a standstill since the beginning of the week. Today, too, there is initially a lack of positive impulses that could drive the DAX towards the 16,000 point mark.
Buyers on the German stock market have been treating themselves to a well-deserved break since the beginning of the week. After the strong price gains since the turn of the month, the DAX has barely moved in the past few days and has hovered around the 15,900 point mark.
Even in the middle of the week, the DAX is unlikely to make any big jumps. The broker IG currently estimates German standard values 0.1 percent higher at 15,912 points. From a technical and seasonal perspective, the DAX still has a chance of further price gains.
Experts see the jump over the resistance zone at 15,500/15,600 points and the recapture of the 200-day line (currently at just under 15,660 points) as a chart-technical liberation. In addition, the best six months on the stock market from a statistical perspective have just begun in November.
Slightly negative guidelines for DAX trading are coming from Wall Street. In the evening, the US stock markets closed in the red. The Dow Jones index of standard stocks fell 0.2 percent to 35,088 points. The technology-heavy Nasdaq fell 0.6 percent to 14,199 points. The broad S&P 500 lost 0.2 percent to 4,538 points.
The publication of the minutes of the most recent meeting of the US Federal Reserve (Fed) in early November played little role on the market. Rather, investors were looking forward to the quarterly figures from chip designer Nvidia, which were due after the stock market closed, which were seen as a test for Big Tech stocks.
In the morning, the Japanese Nikkei index continues its climb after taking a breather. “Japanese stocks have outperformed other markets recently and many investors want to continue buying Japanese stocks,” said Naka Matsuzawa of Nomura Securities. The Nikkei index, which includes 225 stocks, was 0.3 percent higher at 33,452 points at the close of trading in Tokyo. The Shanghai stock exchange, on the other hand, is currently down 0.5 percent.
In Asian foreign exchange trading, the euro is falling slightly, but is still able to stay above the recently regained mark of $1.09. The European common currency is currently trading at $1.0908. A troy ounce of gold cost just under $1,999 this morning, after having surpassed the $2,000 mark the day before for the first time since the beginning of November.
Deutsche Post (DHL) is one of the first logistics companies in Germany to send a fully electric overhead line truck for test operation on the route between Lübeck and Reinfeld. “We want to further reduce our emissions and are prepared to test new technologies to achieve this,” said the head of the Kiel branch of Deutsche Post and DHL, Ingo Kutsch.
Dialysis provider Fresenius Medical Care (FMC) is even more optimistic about the current financial year just a few weeks after its latest forecast increase. From a settlement with the US government, the Fresenius subsidiary expects a positive net impact on the operating result of around 175 million euros. As a result, the operating result is expected to increase by 12 to 14 percent compared to the previous year.
The electrolysis specialist Thyssenkrupp Nucera grew again at the end of its financial year. Compared to the previous year, sales for the months of July to September increased “strongly” as a result of the processing of the large order backlog in water electrolysis, the SDAX company announced yesterday after the stock market closed in Dortmund. Earnings before interest and taxes (EBIT) are slightly positive. Thyssenkrupp Nucera did not provide specific figures.
The boom in artificial intelligence is keeping chip company Nvidia’s business running at full speed. In the last quarter, sales of a good $18 billion were three times as high as the year before. Profits shot up to $9.2 billion from $680 million a year ago. At the same time, Nvidia admitted that business in China would decline “significantly” under the pressure of expanded delivery restrictions.
A few days after his surprising dismissal, Sam Altman becomes head of ChatGPT developer OpenAI again. In addition, the board of directors will be renewed. Altman was only forced out by the old board of directors on Friday and decided on Sunday to go to OpenAI investor Microsoft. Afterwards, around 700 of OpenAI’s 770 employees threatened to follow him – which would have effectively meant the end of the company.