market report
Status: 04/11/2023 07:41 a.m
The DAX should start the shortened trading week with price gains and approach its 14-month high again. Good indications come from Wall Street, where trading started again yesterday.
The DAX is likely to start the new stock market week, which has been shortened due to the public holiday, with momentum. The broker IG assesses the 40 German standard values at the hour 0.6 percent higher at 15,695 points. During Holy Week, the DAX rose to 15,737 points, its highest level since January 2022.
Expert: The DAX wants to go up
According to Helaba stock strategist Markus Reinwand, the DAX wants to go up. The improved German fundamental data – most recently incoming orders and industrial production – would also give that, especially since the valuation is still moderate. The experts at Commerzbank, on the other hand, point out that the current dividend season in the DAX is an important argument for stable prices. The start of the reporting season for US companies for the first quarter could now provide fresh impetus.
Interest rate fears weighed only briefly on Wall Street
Initially, however, investors are likely to react to the presentation of the latest labor market report. This was published on Good Friday, when the stock exchanges were closed both in Germany and in the USA. Accordingly, the already very low unemployment rate fell and wage growth accelerated somewhat.
Trading resumed on Wall Street on Easter Monday; however, US investors largely shook off the interest rate fears that arose at the beginning of trading as a result of the strong job market report. The Dow Jones index closed 0.3 percent higher at 33,586 points. The broader S&P 500 index gained 0.1 percent to 4109 points. The tech-heavy Nasdaq index ended trading little changed at 12,084.
New BoJ governor drives Nikkei prices
Inconsistent specifications for DAX trading are meanwhile coming from the Asian stock exchanges. The inaugural speech by the new governor of the Bank of Japan (BoJ) caused movement: Kazuo Ueda said that it was appropriate to maintain the ultra-loose monetary policy for the time being. This prospect has investors grabbing hold of Japanese stocks. The Nikkei Index, which comprises 225 stocks, is up 1.3 percent at 27,983 points shortly before the close in Tokyo. The Shanghai stock exchange, on the other hand, is down 0.4 percent. The index of the most important companies in Shanghai and Shenzhen lost 0.3 percent.
euros under 1.09 dollars
In Asian forex trading, the dollar is weakening across the board. At the same time, the European common currency is rising, one euro is currently trading at 1.0883 dollars. During Holy Week, the euro initially approached the $1.10 mark, but then fell back again. An ounce of gold is $2,000 in early trading.
Audi starts regular operation for city fast chargers
In the DAX, the focus is on the VW share. The subsidiary Audi is expanding its network of high-speed charging stations in Germany. With the opening of a station with four charging points in the Friedrichshain district of Berlin, the manufacturer from Ingolstadt started regular operations in Germany on Friday. Not only Audi vehicles can be charged at the stations, but all e-cars that have a corresponding quick charging socket (DC).
Evotec after cyber attack: maintaining business
The pharmaceutical drug researcher Evotec has announced an update after the cyber attack. Although the systems are currently not connected to the network, business continuity has been maintained at all global locations, the company announced yesterday. A forensic investigation into the scope and potential impact is being conducted with external IT and other experts.
Wacker Chemie does not rule out US investment
As a reaction to the high energy prices in Germany, Wacker Chemie AG does not rule out relocating investment projects to the USA. An implementation of existing systems makes no sense, said CEO Christian Hartel of the newspaper “Augsburger Allgemeine”. “But when it comes to expansion and building additional capacity, the funding scheme in the US is significantly simpler today.”
Malfunctions at Apple – several services affected
Thousands of Apple users have reported problems with various services. Apple Music, Apple Music Radio and iTunes Match have been affected by an ongoing outage, the company’s status page said. As a result, there were also problems with Apple News. Services such as the support service and the Apple Store were also unavailable to thousands in the United States, according to the Downdetector website.
US worried about Tesla deals in China
The United States is taking a closer look at the business relations between electric car manufacturer Tesla and China. “Tesla seems totally dependent on the generosity of the US government in terms of tax breaks and access to the Chinese market,” said Mike Gallagher, Republican chairman of the House of Representatives’ special committee on the Chinese Communist Party. When asked by Reuters about a new Tesla battery factory in Shanghai, which CEO Elon Musk announced on Sunday, Gallagher said: “I’m concerned about it.”
Tupperware stock plummets nearly 50 percent
The food storage container manufacturer Tupperware has come under heavy pressure due to liquidity concerns. After the company warned of acute cash shortages, the stock fell 49 percent on Wall Street yesterday to $1.2. The price fell to its lowest level since the record low at the beginning of the Corona crisis around three years ago. The firm has hired consultants and started talks with potential investors to raise money.