The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf After two positive trading days in a row, the Dax is taking a breather on Friday. The leading index was unchanged at 12,840 points in the first hour of trading.
Today’s trading day is explosive. With a minus of at least 30 points at the end of the session, the Dax would end the sixth trading week in a row negative.
According to Thomas Altmann from the investment house QC Partners, there was an even longer series of losses last in 1998 – neither during the financial crisis of 2008 nor when the technology bubble burst at the beginning of the millennium. That’s all you need to know about the current market phase.
The decision about the historical dimension of the current Dax development should be made in the USA. The US labor market data will be published there at 2:30 p.m. Job growth is likely to have slowed significantly in June. After 390,000 new jobs previously created, the estimates are now for an increase of 268,000 jobs.
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