market report
The DAX is likely to continue in the new month where it left off in the old one – with ever new record highs. At the end of the week, the leading German index is once again heading for a record.
Six record highs in a row – but investors on the German stock market are apparently still not tired of buying. The DAX is preparing to crown the end of this extraordinary stock market week with a new all-time high.
The broker IG currently values German standard values 1.1 percent higher at 17,788 points. If the DAX were to replicate these price gains in regular XETRA trading from 9 a.m., it would easily surpass its one-day-old record of 17,742 points. It would be the seventh record high in a row.
The 18,000 point mark in the DAX is now getting closer and closer. From a technical perspective, the leading German index has even more room for improvement: HSBC expert Jörg Scherer puts the price target at 18,375 points.
Traditionally, there are only a few economic data items on the stock market agenda at the end of the week. However, consumer prices in the eurozone in February are likely to attract investor interest.
Tailwind for the DAX comes from Wall Street. The Dow Jones Index closed yesterday 0.1 percent higher at 38,996 points. The technology-heavy Nasdaq advanced 0.9 percent to a record close of 16,091 points. The broad S&P 500 gained 0.5 percent to 5,096 positions. All three market barometers recorded price gains for the fourth month in a row.
The so-called PCE deflator published yesterday, the US Federal Reserve’s preferred inflation indicator for its monetary policy, was in line with expectations with an increase of 0.3 percent on a monthly basis. Traders therefore continued to bet on the Fed’s first interest rate cut in June.
The recovery on Wall Street boosted the Japanese stock markets in the morning. The 225-value leading index Nikkei reached a new record high. At the close of trading in Tokyo there was an increase of 1.9 percent to 39,910 points. The Shanghai stock market is currently trending sideways.
The euro is hardly moving in Asian foreign exchange trading. The European common currency is currently trading at $1.0813. Meanwhile, gold prices are defending their recent gains. A troy ounce of gold costs just under $2,045 this morning.
Bayer shares in the DAX could be worth a look. The stock’s collapse in price since the beginning of the year is likely to lead to its removal from the Stoxx Europe 50 in March. According to analyst Pankaj Gupta from JPMorgan Bank, the reason is that the agricultural chemicals and pharmaceutical company violated the retention criteria for two months. The index provider Stoxx Ltd., which belongs to Deutsche Börse. will publish its next list in early March
The car rental company Sixt is expecting significant growth this year due to high demand and international expansion. In the current year, group sales are expected to increase significantly compared to the previous year, the MDAX-listed company announced yesterday evening. The board sees consolidated earnings before taxes (EBT) at 400 to 520 million euros, after 464 million a year earlier.
According to official measurements, the US electric car manufacturer Tesla has exceeded certain wastewater limits – but the responsible authorities see no danger to the population. According to information from the dpa news agency, the value for phosphorus has been five times above the official limit since the factory opened almost two years ago, and there were four excesses in relation to the contract with the Strausberg-Erkner water association.
Diet specialist WeightWatchers lost almost a fifth of its value in one day. The company ended the last quarter with a decline in sales and a higher loss. In addition, popular television host and actress Oprah Winfrey announced her departure from the board of directors. She wants to donate her shares.
The creators of the chatbot ChatGPT want to bring their software with artificial intelligence into humanoid robots. The start-up Figure wants to use OpenAI to develop new AI models for its machines that walk upright and can already perform complex movements with their mechanical hands. In January, Figure agreed with BMW to supply robots for use in car production in the US state of South Carolina in the future.
The aircraft manufacturer Boeing has said it has agreed to a settlement with the US State Department with a fine of $51 million for numerous export violations. It involved the unauthorized downloading of technical data from Boeing and partner companies in China and other countries.
Facebook parent Meta today ruled out signing new commercial deals for traditional news content in Australia, France and Germany. The owner of Facebook has often clashed with Australia over its requirement to pay publishers for news content.