DAX hit: Sell in may...?

DAX hit: Sell in may...?

Tuesday brought a discount of almost 190 points or around 1 percent for the DAX, which caused the leading German stock exchange index to fall back below the 18,000 mark and is currently trading at 17,932 points. Wall Street saw mixed developments as slight gains in the Dow Jones index were offset by small losses in the S&P 500 and the Nasdaq technology exchange. The Federal Reserve is hesitant to reverse interest rates due to stubbornly high inflation in the US, as it sees no progress towards the two percent inflation target. Fed Chairman Jerome Powell left open the timing of a rate hike, leading to speculation that it could drag on until September or even November.

At the corporate level, reporting season remains in investors' focus, with quarterly reports from companies such as Siltronic, Axa, Arcelormittal, Hugo Boss, Novo Nordisk, Shell and Amgen. Particular attention is being paid to Apple's quarterly results, as experts note an almost 20 percent decline in iPhone sales in China at the beginning of the year. At the same time, the company is in the focus of authorities in the USA and Europe due to possible cartel behavior.

Purchasing manager data and economic forecasts could provide price momentum by providing insights into economic activity in different countries. The OECD publishes its forecasts for the group of industrialized countries to which most world trade and investment activities belong. In February, the OECD halved its forecast for German gross domestic product from 0.3 percent, pointing to general economic uncertainty and slowdown.