After a two-day correction, the Dax rose again on Wednesday ahead of the eagerly awaited US inflation data. A few minutes after the Xetra launch, the leading index gained 0.33 percent to 18,778.54 points. The record high from Friday last week is 18,845 points and is getting closer.
In the morning the reporting season sets the tone again. In the afternoon, US consumer prices, probably the most important economic data of the week, will be on the agenda. Recently, investors were somewhat unsettled about the interest rate turnaround in the United States because inflation remained stubbornly high. They hope that the inflation data will provide new information about the Fed’s monetary policy course.
If the inflation figures do not disappoint, a record high could be on the scoreboard in the afternoon, wrote analyst Jochen Stanzl from broker CMC Markets. 19,000 points in the DAX would be the reward for those investors who are already buying stocks.
The MDax of medium-sized stocks was only just up on Wednesday at 27,230.25 points. The EuroStoxx 50, the leading barometer for the euro zone, recorded an increase of 0.31 percent. Positive guidance from the USA generally supported the European markets.
Source: Stern
