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Dax Records Mixed Performance Despite Economic Data Influence
2024-09-03 23:55:08
Markets
Economy
Stocks

Dax Records Mixed Performance Despite Economic Data Influence

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The Dax index experienced a drop despite reaching a new record high, with analysts expressing concerns over market overbuying post a substantial price surge. German stocks hit highs amidst impending recession risks, boosted by SAP's growth and Generative AI cost efficiencies, despite declines in major automotive stocks.

The ECB rate cut expectations and lower fossil fuel prices support the Dax, although structural issues in the German economy persist. Market expectations remain cautious as the Dax nears the 19,000-point mark, with a focus on the US labor market report and ISM index, alongside positive movements in Japanese markets and news concerning US steel and Hewlett Packard's legal battles.

Related news on that topic:

Asian Markets Mixed Ahead of US Holiday and Jobs Report

Asian markets are cautiously mixed as Japan's economy shows signs of recovery while China's manufacturing weakens. Positive US data hints at a potential Fed rate cut, with the S&P 500 inching towards a record high. Amid declining oil prices, traders anticipate the impact of the upcoming US holiday and jobs report. China's economic struggles, Hong Kong developer losses, and fiscal easing prospects in China contribute to the cautious market sentiment. Investors focus on key indicators such as the Caixin PMI, US job data, and central bank meetings for insights on Fed cuts and the US economy's trajectory. The dollar strengthens against the euro as traders await US payroll data, adjusting expectations for Fed easing based on Treasury yields and rate cut speculations.

Stocks Plunge as Economic Concerns Mount and Tech Companies ... Disappoint

Stocks across major indexes experienced a significant drop as economic fears intensified and tech companies, including Nvidia and chip index PHLX, disappointed investors. Apple also saw a decline of 3%, resulting in a loss of $95 billion in market value. The Dow Jones fell by 1.5%, while oil prices plummeted by 5%. China's manufacturing slowdown further exacerbated economic concerns. Investors attributed the broad selloff in the S&P 500 and Nasdaq to factors such as volatility in presidential election years, post-Labor Day trading patterns, and apprehensions regarding an economic slowdown and weakness in AI and chip manufacturing. The August jobs report, Federal Reserve rate decision, ISM manufacturing metric, and the CME FedWatch Tool's indication of higher odds of a 50 basis point cut were among the focal points for investors. This downturn marks a setback for the recent market rally that had brought the S&P 500 within reach of a record.

Read 11 more recent news on this topic

The press radar on this topic:

Tagesschau - Wirtschaft und Börsen-Nachrichten
3. September 2024 um 20:09

Little Movement Expected Will the 19,000 be achieved today?

Finance
Economy
The DAX remains within sight of its record high; the US employment report on Friday is expected; Japanese markets are trending positively; Kamala Harris calls for US Steel to remain in American hands; Hewlett Packard maintains its claim for damages against Lynch.
EuroNews
3. September 2024 um 12:44

Why are German stocks trading at record highs despite looming recession?

Finance
Economy
Technology
DAX hits records despite Germany's recession risk, GDP contraction, ifo Business Climate Index decline, and S&P Global PMI contraction; SAP's AI-driven growth and Generative AI cost synergies boost index, contrasting with declines in major German automotive stocks like BMW, Mercedes-Benz, Porsche, and Volkswagen; ECB rate cut expectations and easing fossil fuel prices also support DAX, but structural problems in German economy remain.
noz
3. September 2024 um 12:24

DAX reaches new record high and approaches the 19,000-point mark

Finance
Economy
DAX reaches a record high of 18,980 points; MDax and EuroStoxx 50 rise; US holiday influenced the start of the DAX; ISM index and US employment report important for US monetary policy; Helaba experts see possible easing step by the Fed; article warns of unpredictable next stock market crash.
focus
3. September 2024 um 16:24

Stock market in the evening - US economic data weigh on the Dax: record high not maintained

Finance
Economy
Politics
The Dax fell despite a previous record high. The analyst sees the market as overbought after the significant price increase in the last few weeks.
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