After weakening at the end of the previous week, there are signs of a quiet start to the DAX on Monday. Broker IG rated the lead index at 15,281 points two hours before the Xetra opening, which is practically unchanged. The S&P 500’s high on Friday after strong economic data will not give the DAX new momentum for now.
At the start of the previous week the DAX had already reached another record of 15,501 points, but was later reversed. Eventually, he lost more than one percent on a weekly basis.
Strong economic data pushed the S&P 500 higher on Friday. Following a planned tax increase by US President Joe Biden on Thursday, believers are now back in power. Over the weekend, investors increasingly relied on positive stimulus to bring in investments in U.S. infrastructure associated with economic stimulus programs. In general, a continued loose monetary policy supports stock prices. The market-wide S&P 500 was up 1.1 percent at 4,180.17 points. Leading index Dow Jones Industrial Average rose 0.7 percent to 34,043.49 points. However, on a weekly basis, this is a 0.5 percent deduction. The Nasdaq 100 is up 1.3 percent at 13,941.44 points on Friday.
Asia’s most important stock markets rose early in the week. They will continue to be driven by positive economic expectations from investors. Japan’s leading index Nikkei 225 recently rose half a percent. The CSI-300 index with the 300 largest companies listed on China’s major stock exchanges rose 0.3 percent and Hong Kong-based Hong Cheng was recently in the profit zone.
“We are at the start of a fantastic week in the stock market,” said Thomas Aldman, portfolio manager at QC Partners. “The reporting season is accelerating in Europe. Some index heavyweights can be found in books in the US and at the US Federal Reserve session. Each of these points is good for increased volatility.” At the beginning of the week, investors will initially adopt a wait-and-see approach.
Tonight will be exciting in the United States. Tesla will then release the numbers for the first quarter. There are also some dates on the economic side: the trading environment for April in Germany in the morning and the incoming orders for durable goods for March in the afternoon in the US.
Shareholder will report throughout the day on all important developments and news in the national and international markets.
(With material from Dpa-AFX)