Dax back above the 14,400 point mark – professional investors have already realized profits

Dusseldorf After two days of losses in a row, the German stock market stabilized again on Thursday. The leading index Dax is up 0.7 percent in the first hour of trading at 14,439 points. The market benefits above all from the falling oil price. According to media reports, the oil giant Saudi Arabia could expand its production.

However, investors remain cautious. Above all, concerns about rising interest rates and an impending recession are preventing larger follow-up purchases. “And positive economic data such as the ISM purchasing managers’ index published on Wednesday are fueling interest rate concerns,” explains portfolio manager Thomas Altmann from asset manager QC Partners.

That’s why stock market traders are increasingly looking at the US job market reports for the month of May, which will be published on Thursday and Friday. First come the employment figures from the private US employment agency ADP, followed on Friday by the government figures.