Frankfurt, Dusseldorf Investors are counting on the victory of common sense in the USA. The hope that there will be an agreement in the talks about raising the US debt ceiling is causing the stock markets to rise significantly, and the Dax is about to jump to a new all-time high.
The leading German index rose by almost 0.8 percent to 16,285 points in morning trading on Friday. Dax is only five points short of its all-time high of 16,290 points, which was marked in November 2021. By noon, the Dax will give up a small part of its gains and will be at 16,255 points.
US President Joe Biden and Republican House Speaker Kevin McCarthy recently reiterated their determination to reach a speedy agreement to raise the debt ceiling and prevent a government default. An agreement could be reached as early as the weekend. The catastrophic scenario of a US payment default would thus be off the table.
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