Status: 11/25/2022 07:39 a.m
The DAX is likely to start trading near its five-month high marked yesterday. For the leading German index, it could be the eighth consecutive week of gains.
The DAX should initially be able to maintain its elevated level at the end of the week. The broker IG assesses the leading German index at the hour close to its previous day’s closing price of 14,540 points.
Hopes for a more moderate pace from the US Federal Reserve and fresh economic data that give hope for a mild recession in Germany gave up the DAX’s powerful boost yesterday. At 14,571 points, it marked its highest level since early June.
DAX has 14,700 points in mind
The DAX is now in its eighth consecutive week of gains. In the past four trading days it has increased by 0.7 percent so far. With yesterday’s price rally, the technical perspectives for the stock market barometer have also improved further. The next price target for the DAX bulls is now the 14,709 point mark. The next serious resistance is at the level of the intermediate high from June.
Shortened trading on Wall Street today
Today, US investors intervened again – at least a little – after the US stock exchanges were completely closed yesterday for the Thanksgiving holiday. Shortened trading will take place today on the NYSE until 6 p.m. and on the Nasdaq technology exchange until 7 p.m.
Nikkei starts the weekend with losses
The Asian stock exchanges are inconsistent at the end of the week. The Japanese Nikkei index just ended the weekend down 0.4 percent to 28,283 points. The Shanghai stock exchange, on the other hand, was up 0.4 percent. The index of major companies in Shanghai and Shenzhen gained 0.5 percent.
Euro continues above $1.04
In Asian currency trading, the dollar shows slight weakness. Meanwhile, the euro can continue to defend the $1.04 mark. One euro currently pays 1.0411 dollars. An ounce of gold costs $1755 in the morning.
Adidas: internal investigation into the Kanye West case
Among the individual stocks in the DAX, the focus is on the Adidas stock in the morning. The sporting goods manufacturer is launching an internal investigation into allegations of misconduct against Kanye West. The background is allegations that the company ignored his inappropriate behavior towards Adidas employees while working with the rapper. West allegedly showed employees pornographic material.
Credit Suisse maintains subscription price for new shares
The crisis-plagued Credit Suisse has further specified the conditions for the planned padding of the balance sheet and is sticking to the conditions previously promised. As part of the rights issue, the major Swiss bank intends to offer its shareholders new shares at a subscription price of CHF 2.52 each, as the bank announced yesterday. The new titles are to be traded for the first time on December 9th on the SIX Swiss Exchange.
Musk promises “amnesty” for suspended Twitter accounts
Twitter owner Elon Musk has announced that he intends to reactivate accounts banned from the short message service in the coming week. Musk had started a survey among users, in which a majority spoke out in favor of reactivation. “The people have spoken. Amnesty begins next week,” Musk wrote in a tweet last night.
Tesla is recalling more than 80,000 cars
US electric carmaker Tesla has recalled more than 80,000 Chinese-made and imported cars over software and seatbelt issues. According to the company, the cars are the Model S and Model 3, which were imported into China between 2013 and 2022 and manufactured there from 2019, respectively.
Bremen’s Eurapon logistics site closes at Zur Rose
The mail-order pharmacy Zur Rose is taking further steps to improve profitability. In Bremen, the group will close the logistics site of Eurapon Pharmahandel GmbH at the end of 2022 and at the same time discontinue the Eurapon brand. Eurapon’s mail-order customers can now be supplied with medicines by the DocMorris pharmacy from the new logistics center in Heerlen.