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View of the trading floor in Frankfurt: Strong start to the year
Photo: STAFF / REUTERS
The Dax has just exceeded its old record high from mid-December. At 17,004.55 points, the leading German index rose higher than ever before. The old record from December 2023 was just slightly lower at 17,003.28 points.
“The upward trend that started at the beginning of November last year is continuing impressively this year,” said Jochen Stanzl from CMC Markets.
Most recently, the DAX gained 0.8 percent, meaning it continued to hover around the 17,000 mark. At the end of the week, the specifications from the USA were seen as the driving force behind the Dax being able to exceed its previous record again. He had previously barely scratched the 17,000 point mark twice this week.
Interest rate cut in summer?
The New York stock exchanges had risen the day before. Figures from large tech companies boosted the trend there after the trading session, and Amazon and the Facebook group Meta had increased accordingly. The prices on the Nasdaq stock exchange will probably remain high on Friday. Another record high is possible.
We are now eagerly awaiting the labor market data from the USA, which will be announced in the afternoon. They are important for the US Federal Reserve's monetary policy course and are likely to determine when the hoped-for interest rate cuts become conceivable and where market interest rates will trend.
Hopes for interest rate cuts in the USA and the Eurozone were already the main driver of the rally on the stock markets at the end of 2023. Investors continue to speculate on the timing of the first cut this year. A move in the spring that many had already speculated about now seems rather out of the question. Economists believe that the first reductions are possible in the summer.
apr/dpa/Reuters