market report
Status: 01/23/2023 07:42 a.m
At the start of the week, the DAX should rise further from the recently wobbly mark of 15,000 points. But it is questionable whether it will be able to continue the strong rally from the beginning of the year.
Thanks to the strong indications from Wall Street, the DAX should start the new week with profits. The broker IG assesses the German standard values at 15,100 points at the hour, which corresponds to an increase of 0.4 percent compared to the Friday closing price. With an increase of 0.8 percent to 15,034 points, the DAX had saved itself back above the 15,000 point mark after its most recent slide before the weekend.
DAX recovery with question marks
However, experts urge caution. After all, the DAX has been a bit technically stricken since its price slide last Thursday. “As long as the DAX remains largely below 15,150 points, we can expect prices to continue to fall,” Christian Zoller, chart technology expert at ING, is convinced.
In addition: The most recent course reversal took place in the haze of the small expiry day on Friday. In the past, the stock markets have often marked important highs and lows near expiration days, which were then not exceeded or fallen below for many weeks.
Nasdaq with strong gains
In a commentary, the market strategists at JPMorgan also emphasized the risks for further earnings development from a historically high level of profitability. They expect corrections to the ambitious market expectations.
Meanwhile, Wall Street is giving very good indications for DAX trading. Strong figures from Netflix put US investors in a buying mood on Friday. The Dow Jones index of standard values closed one percent higher at 33,375 points. The tech-heavy Nasdaq advanced 2.7 percent to 11,140 points. The broad S&P 500 gained 1.9 percent to 3972 points.
Nikkei closes higher
The Japanese stock exchange cannot escape the good indications from Wall Street either. The leading index Nikkei rose by 1.3 percent to 26,906 points in the morning. Stock markets in China, Hong Kong, Singapore, Malaysia, South Korea and Taiwan remained closed for the Chinese New Year celebrations. The markets won’t open again until January 30th.
Euro just over 1.09 dollars
Dollar weakens in early forex trading. At the same time, the euro is rising significantly to a peak of 1.0902 dollars. The European common currency has not been so high for nine months. An ounce of gold is trading at $1925 this morning.
Symrise with Sweden penalty
In the DAX, the focus should be on the Symrise share at the start of trading. An impairment on a stake in Sweden depressed the fragrances and flavors maker’s 2022 results. Earnings before interest, taxes, depreciation and amortization (Ebitda) fell last year by a good two percent to 795.4 million euros, as Symrise announced on Friday after the stock market closed based on preliminary results.
RWE wants compensation from Lützerath activists
After the village of Lützerath was cleared, the energy company RWE announced that it would take civil action against the demonstrators. “Of course, all disrupters have to reckon with a claim for damages,” said company spokesman Guido Steffen of the “Neue Osnabrücker Zeitung”. However, it is not yet possible to quantify how high these could be.
Mail: millions of letters and packages left behind
According to the company, three million letters and one million packages were left behind as a result of the three-day warning strike at the post office. The post office said there could be a delay of several days in delivery and collection.
Jutta Dönges becomes CFO at Uniper
The energy company Uniper, which was absorbed by the state during the gas crisis, has found a new chief financial officer. The financial expert Jutta Dönges, who has been on the supervisory board for the federal government since December, is to switch to the board of directors and be responsible for finance there from March 1, as Uniper announced on Friday.
Elon Musk on the witness stand over investor lawsuit
In the process of fraud allegations by investors against Tesla boss Elon Musk, the tech billionaire himself was called to the witness stand. However, not much came of it at first: About half an hour after Musk’s questioning by the plaintiff’s lawyer began on Friday, the court adjourned until Monday.