Market report
Status: 07.10.2021 07:46 a.m.
The hope for a solution to the US debt dispute is driving prices on the global stock markets. The DAX should also make up a lot of ground at the start today after its fall yesterday.
The DAX should start the new trading day with a mighty price jump. Banks and brokers currently rate the 40 German standard values 1.1 percent higher at 15,142 points.
The DAX would thus recapture the important zone at 15,000 points, which is where the 200-day line runs, among other things, and thus send a positive technical signal.
The day before, the DAX had slumped to 14,819 points. At the close of trading, the German standard values were quoted at 14,973 meters – a minus of 0.5 percent.
Investors in the global equity markets are enthusiastically receiving the good guidance from Wall Street. In the US, by midweek, there was a glimmer of hope that the Democrats and Republicans could come to an agreement in the dispute over government spending.
This would end a month-long stalemate. Treasury Secretary Janet Yellen and other experts had recently warned in increasingly urgent tones of the disastrous consequences for the financial markets if a solution was not found and the USA was heading towards insolvency.
The US leading index, the Dow Jones, closed 0.3 percent stronger at 34,416 points, around 560 points above its daily low. The technology-heavy Nasdaq advanced 0.5 percent to 14,501 points, the broad S&P 500 0.4 percent to 4,363 points.
Senate leader Mitch McConnell had previously said his party would support an extension of the federal debt ceiling through December. That would buy President Joe Biden’s Democrats time to look for a longer-term solution.
The good guidelines from Wall Street also provide relief on the Asian stock exchanges and attract bargain hunters to the floor. The Japanese leading index Nikkei, which comprises 225 values, is currently gaining 0.8 percent to 27,737 points. The winners include cyclical stocks.
The euro is stagnating in trade in the Far East. The European single currency currently costs 1.1555 dollars. The day before, rising risk aversion had drove investors in droves into the “safe haven” of the US dollar. The euro had fallen to $ 1.1529, its lowest level since July 2020.
The strong dollar is depressing the demand for gold from the non-dollar area. Accordingly, the yellow precious metal has been in a difficult position for weeks. An ounce of gold currently costs 1,759 dollars, 0.3 percent less than the day before.
Among the individual stocks in the DAX, the focus is on the Daimler share. The commercial vehicle manufacturer Daimler Truck plans to start production of its first electric series truck today at 2 p.m. in Wörth. The eActros has a range of up to 400 kilometers. In the transition from internal combustion engines to new drives, the manufacturer relies on batteries and fuel cells.
US short message service Twitter is selling mobile advertising company MoPub for $ 1.05 billion in cash. The buyer is the mobile game provider AppLovin. Twitter acquired MoPub in 2013 for just under $ 350 million. AppLovin went public in April. MoPub had sales of $ 188 million last year.
Levi Strauss is benefiting from the increased demand for new clothing as workers return to the office. For the third quarter, the US jeans company posted adjusted earnings of 48 cents per share. Analysts, on the other hand, had only expected 38 cents per share. Levi Strauss returned to the stock exchange in March 2019 after an absence of more than 30 years.