US tech giants help DAX and US stock exchanges make profits

US tech giants help DAX and US stock exchanges make profits

At the end of the week, the DAX had put its losses from the previous day behind it. Strong quarterly figures from US technology giants have boosted the leading German index. In particular, Google parent Alphabet and Microsoft boasted convincing sales and profits, which made investors optimistic. The DAX closed with a gain of 1.36 percent at 18,161 points, achieving a weekly gain of 2.4 percent. Portfolio manager Thomas Altmann from QC Partners said that the interim correction had been overcome for the time being. Statisticians pointed out that negative trading weeks for the DAX are rare and that the index's performance after three-week periods of losses averages 0.5 percent.

In the US market, the Nasdaq 100 also recorded a rise of 1.65 percent, while the S&P 500 and the Dow Jones recorded moderate gains. The reporting season and the positive mood in the technology sector temporarily outshone the ongoing inflation problems in the USA. While consumers remained happy to spend despite high inflation, the euro remained stable at around $1.07. In contrast, the Japanese yen lost significant value following the Bank of Japan's interest rate decision.

Oil prices saw slight losses, although overall prices improved over the week. The planned solution for Thyssenkrupp's steel division was a central topic on the German market, which led to a significant increase in the company's share price. Despite a decline in sales, Volkswagen subsidiary Traton recorded a positive development due to higher sales prices. The quarterly figures from Google, Microsoft and Snap exceeded expectations and sent the companies' stocks higher. Overall, the trading week reflected an upward trend, influenced by both positive corporate results and global economic indicators.