Before the US labor market report, the DAX initially did not move. In early trading, the leading index lost 0.19 percent to 18,618.12 points. This meant that the DAX did not manage to get close to its record level, which was three weeks old. The MDax with the medium-sized stocks fell by 0.26 percent to 26,957.63 points. The EuroStoxx 50, the leading index for the eurozone, rose by 0.1 percent.
The European Central Bank (ECB) had not given the market any fresh impetus the day before with its first interest rate cut in years. ECB President Christine Lagarde had not given any indications of a further interest rate cut that investors had hoped for. Expectations of further cuts had even declined somewhat, which is probably also due to the central bank’s increased inflation and growth projections, wrote the experts at Helaba. In the afternoon, job data from the USA should be an important signal for the future monetary policy of the US Federal Reserve.
Source: Stern
