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Stock markets under pressure: DAX® with downward momentum - Amazon and MTU Aero Engines in focus
As a result of the ongoing downward trend on the US stock markets, the German stock markets have also continued to trend downwards. The DAX fell over the course of the day and closed just above the daily low of 15,195 points. The technical situation therefore remains tense. The markets are eagerly awaiting tomorrow's publication of inflation figures from some euro countries as well as important labor market data from the USA. Ahead of this data, however, there are still no signs of easing on the bond markets. Yields on long-term government securities continued to rise, resulting in a slight easing at the short end. Rising interest rates are primarily...
Stock markets under pressure: DAX® with downward momentum - Amazon and MTU Aero Engines in focus
As a result of the ongoing downward trend on the US stock markets, the German stock markets have also continued to trend downwards. The DAX fell over the course of the day and closed just above the daily low of 15,195 points. The technical situation therefore remains tense. The markets are eagerly awaiting tomorrow's publication of inflation figures from some euro countries as well as important labor market data from the USA. Ahead of this data, however, there are still no signs of easing on the bond markets. Yields on long-term government securities continued to rise, resulting in a slight easing at the short end. Rising interest rates are putting particular pressure on precious metals such as gold. Gold prices have fallen to their lowest level since March. One reason for the rise in interest rates is the price of oil, which is rising again after a four-day break.
Among the individual stocks, the shares of Allianz and SAP deserve particular mention. The insurance group's rating was upgraded by Moody's and IT giant SAP announced the AI assistant Joule, which will be integrated into the company's cloud portfolio. Continental, Deutsche Bank and MTU Aero Engines recorded significant gains, while Knorr Bremse, Siemens and Siemens Energy benefited from positive analyst comments. In contrast, Zalando came under pressure after negative expert assessments were published. In the US, PayPal and Tesla opened the trading day with significant losses, while Amazon shares reached an important support level. Peleton, on the other hand, started with a strong rebound.
Regarding the DAX, it is noted that although the downward momentum has slowed, the trend remains downward. If the index breaks below today's low, support at 15,078 points could be within reach. There are early signs that the market is oversold and a technical countermove is possible. However, buy signals are only expected above 15,329 points. A breakout above this mark would open up recovery potential up to 15,406 or 15,451 points.
Source: According to a report from www.onvista.de, As reported by www.onvista.de.
Overall, the situation on the financial markets remains uncertain. Investors are eagerly awaiting key economic data that could potentially have further impact on the market. It is recommended that you continue to closely monitor developments and find out about possible investment opportunities.
Disclaimer: The information provided in this article does not constitute investment advice. Any investment or trading decisions should be made at your own risk. Trading financial products involves risk and can lead to the loss of the invested capital.
Read the source article at www.onvista.de