At the start of trading, the Dax continued its record run with a jump above the 18,700 point mark. The hope that key interest rates would be cut in the near future in the USA gave a boost, as did the thin trading turnover on the bridge day after the Ascension Day holiday. On days like this, just a few orders are enough to move the Dax more strongly in one direction or the other.
Most recently, the German leading index rose by 0.38 percent to 18,758.37 points and is now rapidly approaching 18,800 points. From a weekly perspective, there are clear signs of a plus for the second week of May.
The MDax of medium-sized stocks gained 0.46 percent to 26,836.89 points. On the European stage, the EuroStoxx 50, the leading index for the Eurozone, rose by 0.39 percent to 5074.04 points.
On Ascension Day, the index finally put an end to the weak phase since the beginning of April by jumping to a record level. Driven by positive foreign trade data from China and US job data, the Dax had climbed almost to 18,700 points. In the USA, the number of weekly initial jobless claims rose surprisingly significantly, which some investors interpreted as a further indication of a weakening in the labor market. This is exactly what could be crucial for the US Federal Reserve to take a more positive view of the inflation environment and possibly reduce the key interest rate soon.
Source: Stern
