The slight recovery on the German stock market that began the day before continued on Tuesday. Support once again came from the USA, where the record mood for technology stocks continues. The DAX rose by 0.76 percent to 18,205.34 points in the first few minutes of trading. The MDax with the medium-sized stocks gained 0.78 percent to 25,684.20 points. The EuroStoxx 50, the leading index for the euro zone, advanced by 0.73 percent to 4,915.97 points.
On the economic side, attention in this country is focused on the ZEW data. In the afternoon, attention is likely to be focused on retail sales and industrial production from the USA in May, with slight increases expected for both.
At the start of the week, the Dax had almost reached Friday’s low of 17,951 points, but then managed to turn back over 18,000 points.
The German stock market is being helped by the fact that not only the technology-heavy Nasdaq stock exchange climbed to new record highs the day before, but also the broad market S&P 500. The Nasdaq 100 index is now up a good 18 percent in 2024 and is heading towards the 20,000 point mark. In addition to the booming topic of artificial intelligence (AI), investors are also continuing to bet on the interest rate turnaround in the USA, even though the Federal Reserve initially stuck to its high interest rate policy last week.
Source: Stern
