The Dax quickly lost momentum after a half-hearted record attempt. Shortly after the stock market launch, the leading German index stood at 16,999 points, only a few points short of its record from December. In the end, he only saved an increase of 0.18 percent to 16,972 points. The MDax of medium-sized stocks ended trading 0.34 percent lower at 26,012 points.
The Dax quickly lost momentum after a half-hearted record attempt. Shortly after the stock market launch, the leading German index stood at 16,999 points, only a few points short of its record from December. In the end, he only saved an increase of 0.18 percent to 16,972 points. The MDax of medium-sized stocks ended trading 0.34 percent lower at 26,012 points.
The market said that the Dax had become afraid of its own courage. This is not surprising given the upcoming quarterly reports from some US tech giants. Their already high valuations left no room for disappointment, wrote portfolio manager Thomas Altmann from QC Partners. After the US stock market closes, the software company Microsoft and Google parent Alphabet present figures. Apple, Amazon and Facebook parent Meta will follow later in the week.
In addition, the US Federal Reserve Bank will decide on its further monetary policy on Wednesday evening. The hotly debated question in the financial markets is when they will lower interest rates for the first time in a long time and how often this will happen this year.
Source: Stern
