Dax course currently: Dax overcomes the 14,000 point mark

Dusseldorf The leading German index recovered again on Wednesday. However, the course of trading showed that the round mark of 14,000 points was not easy to overcome. The Dax closed at 14,098 points, an increase of 1.5 percent. The daily high thus reached is the highest level since the price slide on Thursday last week in the course of the ECB interest rate decision.

With the recent price gains, the stock market has coped well with the Japanese interest rate shock. The European and US indices quickly recovered from the initial strain.

As a result, the psychologically important mark of 14,000 points was again in focus on this trading day. After the price slide last Thursday, the attempt by the Dax to sustainably overcome this round mark ended at 14,011 points in the following days.

Top jobs of the day

Find the best jobs now and
be notified by email.

With prices above 14,150 points, the index would climb back into its five-week sideways phase and form the basis for a conciliatory end to the year. That should be more of an issue in the coming trading week.

In view of the high interest in buying, the question arises: was the short-term slide in prices below the 13,800 mark on Tuesday already the low point of the ongoing consolidation and thus the last entry signal in this stock market year?

Mostly price gains at the end of the year

Because there are only six trading days left in this stock market year. And the last week of trading has a positive statistic. In the past 33 years, the German standard values ​​have increased in two thirds of all cases, the average gain was 0.8 percent, which, converted to the current listing, means a plus of 110 points.

Investors should at least expect the Dax to fall below the 13,800 point mark again in the coming days. But it’s a positive sign that there are still some buyers just before the holidays who are buying when prices are falling and thus supporting the market. In the opinion of the capital market expert Thomas Altmann from QC Partners, “such an early interest in buying makes a short-term failure much less likely”.

Accordingly, the Dax should no longer fall below the important 200-day line in the coming weeks, which is currently rising by two points a day and is at 13,569 points. However, should the leading index fall below this mark, larger losses would be likely.

>> Read also: Does history repeat itself? What speaks for a friendly stock market year 2023

However, the Japanese interest rate shock left its mark on the bond markets worldwide. The Bank of Japan’s action has pushed the two-year Bund yield to a new 14-year high of 2.516 percent. But this Wednesday, this value is down again and is 2.49 percent. At 2.32 percent, the ten-year Bund has reached its highest level since the end of 2011.

Improved consumer mood

A similar picture emerges in the USA. There, too, the yield gap between two- and ten-year US government bonds is falling. For Jochen Stanzl from broker CMC Markets this means: “The bonds in the USA are sending milder recession signals. This is also good news for the stock market.”

Despite the energy crisis and high prices, people in Germany are starting the new year in a slightly better mood to spend. The barometer of the GfK market researchers in Nuremberg indicates an increase of 2.3 points to minus 37.8 points for January. “With the third increase in a row, the consumer climate is slowly working its way out of the low,” said GfK expert Rolf Bürkl on Wednesday. “The light at the end of the tunnel is getting a little brighter.”

However, economists are not giving the all-clear. “The magic of Christmas doesn’t work, the consumer mood remains bad,” said Alexander Krüger from Hauck Aufhäuser Lampe Privatbank AG. “The high losses in real income due to the increase in inflation hurt too much.” The mood looks like it is bottoming out. But there can be no talk of confidence.

Oil market stabilizes

Oil prices rose on Wednesday afternoon. A barrel (159 liters) of North Sea Brent cost $81.59. That was $1.91 more than the day before. The price of a barrel of American West Texas Intermediate (WTI) grade rose by $1.75 to $77.78. The situation on the oil market thus appears to have calmed down again. Since the price dropped by around 40 percent from the end of June to the beginning of December to around 75 dollars, the price of the North Sea variety Brent has risen again significantly.

In a calm environment, oil prices received some support from fresh inventory data from the US. “A stronger-than-expected US inventory drawdown and US plans to replenish its strategic oil reserves have supported oil prices,” said Serena Huang, senior researcher at Vortexa. “However, optimism has been dampened by downward pressure from mounting global economic headwinds and the recent spike in Covid cases in China.”

Look at the individual values

Adidas/Puma: Strong figures from US rival Nike helped both papers. Adidas shares rose 6.8 percent. Puma stocks rose 9.5 percent.

Strong demand in North America and Europe has helped the world’s largest sporting goods manufacturer Nike to jump in sales, the share rose by 13.5 percent. Year-to-date, Nike shares have lost about 38 percent of their value on Wall Street.

US stock market expert Koch: “Nike and FedEx results boost trading on Wall Street”

Nike’s results far exceeded expectations, said Naeem Aslam, chief market analyst at brokerage firm AvaTrade. “Nike has been able to clear most of its sizeable inventory, which has been a concern for many retailers given that we are at a time when the cost of living crisis is a major factor.”

Aurubis: The titles of Europe’s largest copper works experienced a roller coaster ride. After an interim minus of 7.9 percent, the paper was up 2.8 percent at the end of trading. The operating result and the earnings outlook were slightly above expectations.

The shareholders are to participate in the growth with a dividend increased by 20 cents to EUR 1.80 per share – the highest since the IPO. The largest Aurubis shareholder is the Salzgitter steel group with 30 percent.

Here you can go to the page with the Dax course, here you can find the current tops & flops in the Dax.

source site-17