Investors on the German stock market initially held back. After moderate profit-taking the day before, the German leading index Dax was trading almost unchanged at 17,944.30 points the morning after the start of trading, up 0.01 percent.
Investors on the German stock market initially held back. After moderate profit-taking the day before, the German leading index Dax was trading almost unchanged at 17,944.30 points the morning after the start of trading, up 0.01 percent.
The MDax, the index of medium-sized stocks, also barely moved – after the first few minutes it was 0.09 percent higher at 26,285.88 points. The Eurozone leading index EuroStoxx 50 was also more or less stable.
The Dax exceeded 18,000 points for the first time this week. However, economic data pointing to rising price inflation in the United States and a continued robust US labor market have recently slowed the rally somewhat. All those market participants who were still hoping for interest rate cuts very soon were somewhat disappointed.
The US Federal Reserve’s interest rate decision, which is due in the middle of next week, is therefore already being viewed critically. A rate hike is not expected, but there could be signals as to whether the key interest rate will fall in June – as the market expects. Before the weekend, futures contracts on stocks and indices expire on the futures exchanges on the “Great Expiry”. On such days, stock prices and indices can fluctuate noticeably for no apparent reason.
Source: Stern
