After the short trip to a record high on Friday, the Dax initially showed little movement at the beginning of the week. Strong labor market signals from the USA are currently dampening the hopes of many investors for interest rate cuts, but on the other hand they also indicate economic strength.
After the short trip to a record high on Friday, the Dax initially showed little movement at the beginning of the week. Strong labor market signals from the USA are currently dampening the hopes of many investors for interest rate cuts, but on the other hand they also indicate economic strength.
In the first few minutes of trading, the Dax was up 0.05 percent at 16,926 points. The leading index remained close to the 17,000 point mark and the record just above it. Supported by a recovery in Delivery Hero shares, the MDax rose by 0.54 percent to 25,791 points in the morning. The EuroStoxx, the leading index for the Eurozone, rose by 0.1 percent.
Surprisingly strong US labor market data had put the brakes on the Dax, which had briefly reached record highs, on Friday due to concerns that this could cause new inflationary pressure and slow down expected interest rate cuts. Nonetheless, the jobs data underlined that the US economy is in good shape. This was ultimately interpreted positively on Wall Street because the record rally continued on the New York stock exchanges.
Source: Stern
