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DAX records slight losses after record rally - investors are eagerly awaiting the US labor market report. ECB interest rate cuts expected.
According to a report from www.tagesschau.de, investors are holding back after a recent rally as they eagerly await new data from the US labor market. The DAX closed just below its peak and fell slightly. Stock market expert Andreas Lipkow notes that the stock markets are losing price momentum. The hope of interest rate cuts by major central banks was a main reason for the price gains. However, European and US central banks have remained cautious, although traders have expressed hopes of rate cuts. The market's economic optimism and interest rate cut fantasy could have an impact due to the likelihood of monetary easing from the European Central Bank (ECB) and the US Federal Reserve. Economists expect...
DAX records slight losses after record rally - investors are eagerly awaiting the US labor market report. ECB interest rate cuts expected.
According to a report from www.tagesschau.de,
Investors are holding back after a recent rally as they eagerly await new U.S. jobs data. The DAX closed just below its peak and fell slightly. Stock market expert Andreas Lipkow notes that the stock markets are losing price momentum. The hope of interest rate cuts by major central banks was a main reason for the price gains. However, European and US central banks have remained cautious, although traders have expressed hopes of rate cuts.
The market's economic optimism and interest rate cut fantasy could have an impact due to the likelihood of monetary easing from the European Central Bank (ECB) and the US Federal Reserve. Economists expect the ECB to cut interest rates for the first time in the second quarter of next year. The Fed has no plans to cut interest rates imminently, but its future moves depend on the data.
The US labor market report on Friday and the economic data from Germany confirm the weak picture of the industry. German companies surprisingly cut their production for the fifth month in a row in October. This could indicate a recession in the German economy in the second half of the year.
Stock markets reacted positively to news from the AI sector, causing the Nasdaq technology exchange to rise more than the Dow Jones and the S&P 500 index. Google parent Alphabet unveiled a new AI model called Gemini and claimed it could outperform ChatGPT, sending shares higher.
The economic downturn in the winter months could result in oil prices being oversold, meaning short-term upward movements are possible. Cautious tones from Adidas boss Björn Gulden regarding the sporting goods company's profit maximization led to the share price losing value. The chemical company BASF is spinning off two of its divisions.
Overall, the current market data points to some uncertainty and possible changes in the financial industry, influenced by various factors such as the US labor market report, interest rate cut hopes and the state of the German economy.
Read the source article at www.tagesschau.de