The leading German index continued its record rally on Friday.
The DAX opened the session just in the black and then moved further into the profit zone. He was initially able to surpass the 18,700 point mark and later also the 18,800 point mark. It reached its daily high of 18,845.86 points – then it came back a little from this, but still remained in green territory. Ultimately, the stock market barometer gained 0.46 percent to 18,772.85 points, thus reaching a new record closing level. The TecDAX was also up after barely starting higher. In the evening he gained 0.47 percent to 3,400.26 points.
The US labor market data from the previous day gave rise to hopes that the US Federal Reserve could possibly cut the key interest rate soon. The thin trading turnover on today’s bridge day after “Ascension Day” also gave a boost. According to dpa-AFX, capital market strategist Jürgen Molnar from RoboMarkets spoke of a “strong breakout with weak sales”.
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The European stock markets continued to rise before the weekend.
The EURO STOXX 50 was in the profit zone over the course of the day and then ended trading 0.61 percent higher at 5,085.08 points. He had previously started the session slightly stronger.
“Risk on” is the order of the day, Dow Jones Newswires reported. The yields on US government bonds and the US dollar trended lower. Meanwhile, the reporting season took a break before the weekend. Some decision-makers used Friday as a bridge day. The news situation was therefore comparatively thin.
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Investors on the US stock exchanges cannot agree on a direction on Friday.
The Dow Jones Index rose by 0.20 percent to 39,466.52 points when the starting bell sounded on Friday. Afterwards things also look up. The NASDAQ Composite moved 0.26 percent higher at 16,389.02 points at the start of trading. Recently, however, the profits have dwindled again.
Wall Street continued to be buoyed on Friday by increased hopes of imminent interest rate cuts in the US, which have been strengthened again in recent days. The latest weekly jobless benefit data showed a larger-than-expected increase, which investors interpreted as another sign of a weakening labor market. This could prompt the US Federal Reserve to take a more positive view of the inflation environment and soon Interest rate cut to be considered.
On Friday, the focus will be particularly on the consumer climate at the University of Michigan. May saw a slowdown in US consumer sentiment. The U.S. consumer sentiment index, calculated by the University of Michigan, fell to 67.4 in the middle of the month, below expectations. Experts had predicted a value of 76.0.
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The stock exchanges in the Far East showed a positive trend on Friday.
He won in Tokyo Nikkei 225 ultimately 0.41 percent to 38,229.11 points.
On the Chinese mainland, the listed Shanghai composite meanwhile a marginal 0.01 percent higher at 3,154.55 units. The Hang Seng in Hong Kong rose by 2.30 percent to 18,963.68 points.
While investors in mainland China held back from inflation data over the weekend, the Hong Kong stock market continued to be supported by, among other things, better-than-expected Chinese exports and imports in April. In addition, weekly US initial jobless claims in the USA were higher than expected on Thursday. This has fueled the recent increase in speculation about key interest rate cuts by the US Federal Reserve over the course of this year. In addition, the Bank of England signaled an imminent interest rate cut.
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