Market report
Status: 07/13/2021 7:46 am
The signs for the stock market are initially quite good. After the record hunt in America, the DAX should initially stay above the 15,800 point mark at the start of trading. But important dates follow.
The unofficial early trading before the actual stock exchange opening in Frankfurt indicates an alleged opening of trading. The indications of various banks on the DAX are in the range of 15,807 points and thus in the range of the new high reached yesterday. “In the end, the buyers have stayed at this level every time. And I doubt that exceeding the old high by four points is enough to be perceived as an upward breakout,” commented market observer Thomas Altmann from QC Partners.
On the Japanese stock exchange, the price gains dominate today. The Nikkei index, which comprises 225 values, gained half a percent to 28,723 points shortly before the close of trading.
Significantly more exports in China
Chinese exports exceeded analyst expectations in June thanks to strong global demand. Exports increased by 32.2 percent compared to the same period last year, according to data from the customs authorities. Economists polled by Reuters had expected an increase of 23.1 percent. These data suggest that the global economy is currently under full steam.
Price gains in America
The good development of the past weeks and months continued yesterday on the US stock exchange. The Dow Jones Industrial Average closed 0.4 percent higher to 34,996 points. The broad S&P 500 gained 0.3 percent to 4384 points. The composite index of the technology exchange Nasdaq advanced 0.2 percent to 14,733 points. All three stock market barometers reached new record highs, at least during the course of the day.
Start of the reporting season
This means that investors in America have given a lot of advance praise and fueled high expectations. Because today the quarterly reporting season begins on Wall Street. The two big banks Goldman Sachs and JP Morgan are making the start.
Virgin Galactic wants fresh capital
British billionaire Richard Branson and his company Virgin Galactic made the headlines on the stock exchange yesterday. Investors reacted negatively to a planned capital increase at the company. At the weekend, Branson said he had heralded a new era of commercial space travel with his personal foray into space. Against this background, the company wants to issue new shares with a volume of $ 500 million. Virgin Galactic’s titles plummeted more than 17 percent after initial gains.
US inflation data expected
After the inflation rate rose to a 13-year high of five percent in May, the inflation report for June only expects a slight decline in inflation. The now increased inflation is also due to the collapse of many prices during the first corona wave a good year ago. However, the prices of many preliminary products and raw materials have also risen due to supply bottlenecks and strong demand driven by the economic recovery.
Qiagen disappoints
The diagnostics and biotech company Qiagen has lowered its sales forecast for the full year after a second quarter that was weaker than expected. Management now expects a currency-adjusted increase in sales of at least 12 percent. So far, the group had assumed an increase of 18 to 20 percent.