Status: 01/10/2023 07:38 a.m
At the opening of the German stock market, there are signs of a pause in the current upward trend. After its dream start in 2023 so far, the DAX remains at a high level.
In the first pre-market indications, the DAX is calculated at just over 14,700, a moderate minus compared to the Xetra close of the presentation at 14,792 points. Since the beginning of the year, the index has gained around 6.5 percent, so it would not be unusual for investors to pause.
The leading German index follows Wall Street’s late trading trend in the morning, which was unable to hold onto early gains and weakened towards the end of the session. The leading index Dow Jones even slipped into the red and closed 0.34 percent in the red at 33,517 points. The S&P 500 index also fell slightly at the end.
US technology stocks held up better, but also closed well below the daily high. Nonetheless, highly valued tech stocks appear to be gaining momentum again after weaker-than-expected US jobs data last week pushed back interest rate fears.
Asia mixed – gains in Tokyo
The Tokyo Stock Exchange rose 0.8 percent to 26,175 points, also following Wall Street. Technology stocks in particular were in demand. Elsewhere in Asia, however, prices fell.
Statements by two US central bankers that the Fed is likely to hike interest rates to over 5 percent made investors cautious, analysts said. So they wanted to wait for the data on US inflation on Thursday. The Shanghai stock exchange is currently losing 0.1 percent, Australia fell almost 0.3 percent.
Euro continues to show strength
The shared currency continues to trade high in early European trading at $1.0738. The lower interest rate expectations in the USA, but also recently robust order data from industry in Germany are supporting the euro. It was paid as high as $1.0760 yesterday, the highest since June.
Today, the data chain of economic data is manageable. Only data on industrial production from Spain and France are expected in the morning, but from November.
Moderna calculates up to $ 130 per Covid vaccination
According to a newspaper, Moderna is considering charging between 110 and 130 dollars for a corona vaccine dose in the USA. Such a price corresponds to the value, said the boss of the pharmaceutical company, Stephane Bancel, the newspaper “Wall Street Journal”. Discussions were being held with health insurance companies and pharmacies.
The background is the switch from government orders, as during the peak phase of the pandemic, to commercial distribution of the vaccine. Moderna had previously spoken of a range of $64 to $100 per vaccination. In October, rival Pfizer announced that it would increase the price per vaccination to between $110 and $130. Pfizer is a cooperation partner of the German Moderna competitor Biontech.
Apple wants to create its own chips
In a few years, the chip company Broadcom could be allowed to deliver fewer products to its currently most important customer, Apple. The iPhone maker wants to produce the chip responsible for Wifi and Bluetooth itself from 2025, the Bloomberg news agency reported, citing people familiar with the matter.
In its last fiscal year, Broadcom earned 20 percent of its revenue from Apple, which equates to nearly $7 billion. According to circles, the chip manufacturer Qualcomm is also affected by the plans. The three companies did not comment on Bloomberg’s request.