Stock market without orientation: DAX investors are waiting for US inflation

Today more than ever, investors are looking to the US, where new inflation figures will be published this afternoon. The policy of the central bank, whose price influences stock exchanges around the world, depends on this.

The sideways position on the stock markets continues. Although the DAX managed to exceed the threshold of 15,700 points at the beginning of the week, there is still a lack of orientation overall. The uncertainty about the future monetary policy of the US Federal Reserve, the not yet defeated pandemic and poor economic data from China mean that many investors stay under cover for the time being.

As a result, the DAX initially opened unchanged in the morning and initially managed to consolidate above the 15,700 point mark. Investors are excitedly looking forward to the release of the latest US inflation rate expected at 2:30 p.m. German time. Experts expect it to be over five percent for the fourth month in a row.

Should it turn out to be higher than forecast and the inflation proves to be persistent, investors fear that the US Federal Reserve (Fed) will change its course even faster than expected and thus usher in the end of the flood of money on the financial markets. This is indicated by statements from various central bankers, above all the head of the regional Fed in Boston, Eric Rosengren. He advocates scaling back the bond purchase program quickly. The central bankers will meet next week for the next monetary policy meeting.

Investors are also concerned about plans by the US government for tax increases to finance a $ 3.5 trillion corona aid package. Nevertheless, the standard values ​​in the Dow Jones rose 0.8 percent yesterday. In contrast, the technology exchange Nasdaq closed 0.1 percent weaker at 15,105 points. The broad S&P 500 gained 0.2 percent to 4468 points.

The Japanese leading index Nikkei-225 closed 0.73 percent higher at 30,670 points. He continued his previous rally. In the course of the day, at almost 30,800 points, it reached its highest level since 1990. In contrast, the Chinese stock exchanges continued to show the uncertainty surrounding the country’s regulatory measures in the technology sector. The CSI-300 index, which includes the 300 most important companies from mainland China, closed 1.6 percent weaker. The Hong Kong Stock Exchange’s Hang Seng Index closed 1.4 percent lower at 25,442 points.

The exchange rate of the euro was stable above the $ 1.18 mark in the morning. In early trading, the common currency cost $ 1.1815, roughly the same as the night before. The European Central Bank (ECB) set the reference rate a little lower on Monday afternoon at $ 1.1780.

Vonovia has canceled the minimum acceptance threshold of 50 percent of the shares in the struggle to take over competitor Deutsche Wohnen. The Bochum group hopes that this means that there are no longer any valid reasons for Deutsche Wohnen to refuse to approve the takeover offer. By waiving the closing conditions of the takeover offer, the acceptance period, which originally expired on September 20, 2021, will be extended by two weeks. It should now end on October 4, 2021.

Apple will introduce the iPhone 13 tonight. Outwardly, the design of the current series will largely be retained, reported the financial service Bloomberg. But the recess for cameras and sensors for face recognition at the top of the screen should be smaller, it said. The more expensive Pro model should also get a version with a terabyte of storage capacity for the first time, predicted the well-known industry analyst Ming-Chi-Kuo. A new model of the Apple Watch is also expected. According to media reports, the biggest design change since the market launch in spring 2015 is pending. The watch should therefore have a flatter screen and angular edges instead of the previously strongly rounded corners. There is also a report on a new generation of the popular AirPods earbuds that are due to hit the market in the fall.

The Chinese property developer Evergrande, which has run into financial difficulties, warns again of liquidity risks due to a decline in its property sales. The country’s second largest property developer is in talks with potential investors to sell some of its assets, but has not made any “significant progress,” according to a filing on the Hong Kong Stock Exchange. The company blames “persistent negative media reports” for the deterioration in investor confidence, which leads to a further decline in sales in September.

As expected, the US software group Intuit is taking over the email marketing service provider Mailchimp. Intuit is paying around $ 12 billion in cash and shares to acquire the private company. Intuit expects the deal to be completed by the end of the second fiscal quarter of 2021/22 (as of the end of January). Both companies focus primarily on smaller corporate customers.