Small profits expected: Investors remain on the lookout

Wall Street with no direction

The specifications from the overseas exchanges are mixed in the morning. US investors were cautious in the evening given speculation about China’s corona policy. The Dow Jones index of standard values ​​closed with little change at 33,852 points. The tech-heavy Nasdaq fell 0.6 percent to 10,983 points. The broad S&P 500 lost 0.2 percent to 3957 points. “China offers a mixed picture. The protests against the current corona policy are creating uncertainty, but at the same time could be a catalyst for possible easing,” said Carl Ludwigson, managing director at wealth manager Bel Air.

China before decisions?

Investors are also cautious in Asia. They are also reacting to current economic data from Japan and China. Production has fallen in both countries this month, according to official surveys, apparently due to slowing global demand and coronavirus restrictions. The Japanese Nikkei index closed 0.2 percent lower at 27,967 points. On the markets in China, reports of the acceleration of the vaccination campaign offset the losses. The Shanghai stock exchange was up 0.2 percent.

Inflation data and central bank statements

Further data and statements from the EU and the USA on economic development are on today’s agenda. Inflation figures from the EU will be announced in the morning. How the European Central Bank (ECB) will raise key interest rates in the coming months is also likely to depend on them. In addition, US investors are waiting for new impetus from a speech by the head of the US Federal Reserve, Jerome Powell, planned for today, which could indicate further monetary policy steps.

euros below 1.04

The euro fails to establish itself above the $1.04 mark. In the morning, the common currency is trading at $ 1.0375, below the last contested hurdle. Since the beginning of the week, the European common currency has lost around half a cent.

Oil prices continue to move forward

Reports that Chinese health officials would hold a press conference had supported oil prices yesterday. In the morning, a barrel of Brent crude oil costs around half a percent more at $84.60. “The global economic recovery, particularly in the hyperinflationary zones of the US, Europe and the UK, depends on Chinese supply chains getting back on track,” commented Richard Flax, chief investor at money farm.

VW with a new China partner

In the DAX, the focus could be on the VW share today. Media reports had already made the rounds yesterday that the Chinese contract manufacturer Foxconn was a possible partner for Volkswagen. The Wolfsburg-based company is in talks with Foxconn about a plant for the new US brand Scout, reports “Automobilwoche”. Volkswagen announced in May that it would revive the American cult brand Scout in order to enter the electric pick-up and SUV business.

T-share remains a buy?

The major Swiss bank UBS has left Deutsche Telekom’s rating at “Buy” with a price target of EUR 26.40. Analyst Polo Tang wrote in a study available today that Germany is a good market for the telecoms industry, but with specific challenges. His clear favorite is Deutsche Telekom. He praised defensive growth, attractive investor returns and an undervaluation of the group’s non-US business.

Record start for Netflix

According to the US video streaming service Netflix, more than 50 million households watched the new fantasy series “Wednesday” in just five days. “The series now holds the record for hours counted in a week for an English-language TV series on Netflix,” the streaming service announced yesterday. According to this, the eight-part series published last Wednesday was streamed around 341.2 million hours by Sunday.