With a tailwind from New York, the Dax started June with price gains on Monday. The leading index, the Dax, rose by 0.97 percent to 18,678.02 points in early trading. The MDax, which includes medium-sized German stocks, followed suit, rising by 0.98 percent to 26,977.63 points. The EuroStoxx 50, the leading index for the eurozone, rose just over one percent.
The late recovery on Wall Street in particular provided good guidance on Monday. After concerns about the profitability of the booming topic of artificial intelligence (AI) initially pushed the S&P 500 to a three-week low on Friday, the broad market index was able to close clearly in positive territory. The Nasdaq indices also made up for massive losses towards the end.
The week in the DAX will probably be shaped by the key interest rate decision of the European Central Bank (ECB) on Thursday. Experts assume that the central bank will now cut interest rates for the first time after its fight against high inflation with interest rate increases since mid-2022. However, some stock market traders had recently become concerned again about the interest rate turnaround in Europe and the USA, which also slowed down the DAX rally.
Source: Stern
