The Dax starts October hopefully on Monday. Supported by the fact that a provisional compromise was found at the last second in the US budget dispute, the Dax gained 0.48 percent to 15,461 points in early trading. The MDax even rose by 0.81 percent to 26,287 points. The Eurozone leading index EuroStoxx 50 was up half a percent.
The Dax starts October hopefully on Monday. Supported by the fact that a provisional compromise was found at the last second in the US budget dispute, the Dax gained 0.48 percent to 15,461 points in early trading. The MDax even rose by 0.81 percent to 26,287 points. The Eurozone leading index EuroStoxx 50 was up half a percent.
The Dax could therefore follow the last two days of recovery with a third day of gains. According to stockbrokers, the fact that an impending insolvency of the US government has been postponed until mid-November brings some temporary relief. Democrats and Republicans agreed on a transition budget in the House of Representatives over the weekend, which means that trading on the New York stock exchanges can also be expected to get off to a positive start on Monday.
According to experts at ING Bank, attention is now turning to comments from US central bankers, which are expected on Monday. Among other things, its boss Jerome Powell will take part in a discussion in which new impressions on future monetary policy could be given. “The interest rate outlook will remain the be-all and end-all of the markets over the next few weeks,” said one market observer. Purchasing managers’ indices, including the ISM index for US industry, are also described as relevant on the market at the beginning of the week.
Source: Stern
