Financial expert analyzes: Stock market start in 2024 with new share purchases and a confident mood

Financial expert analyzes: Stock market start in 2024 with new share purchases and a confident mood

According to a report by www.tagesschau.de, the DAX is starting the new stock market year 2024 with a plus sign. Investors are confident and are buying new shares, but trading turnover remains low. The German stock market barometer DAX recorded an increase of around 0.3 percent to 16,820 points, thus continuing the upward trend of the past few days. Nevertheless, the all-time high of 17,003 points is still a good one percent away.

According to strategist Jürgen Molnar from Robomarkets, the first trading day of the new stock market year will continue similarly to the old one, but it remains to be seen whether the profits will be maintained. Wall Street's Dow Jones index and Nasdaq index posted slight losses, but a maintained start is expected for trading in New York today. The mood in industrial companies in the Eurozone brightened somewhat in December, but remains well below the expansion threshold. The euro is struggling to reach $1.10 and oil prices have risen due to tensions in the Red Sea.

In the DAX, the shares of the defense company Rheinmetall, the medical technology company Sartorius and the pharmaceutical and chemical company Bayer recorded gains. The world's largest aircraft manufacturer Airbus slightly exceeded its delivery target for last year, while the airline's shares in the MDAX recorded losses. The successful rally in the securities of the biotech group Morphosys continued in the new year and the situation of the chip industry supplier ASML is tense due to export restrictions and withdrawn licenses. The Chinese electric car manufacturer BYD increased its sales by almost 62 percent last year.

Based on this information, it is expected that the market will perform differently in different sectors. Defense and medical technology companies could continue to grow, while aerospace companies and chip industry suppliers face challenges. In addition, the positive development at BYD suggests that electric vehicles and alternative drives continue to be trendy. Market participants should therefore keep a close eye on developments in these sectors.