Dax currently: High producer prices push Dax into negative territory – oil price over $110
Investors are feeling uncertain this week due to the protests in Europe. Economic data are putting pressure on the Dax. A positive reporting season could provide buying impulses again.
Düsseldorf - As the new trading week began, the German benchmark index, known as the Dax, retreated from its gains of the previous week. In the morning session, the Dax closed at 25,325 points, marking a 1.2% decline. The previous week had seen the Dax rise by nearly 1% to 25,623 points, reaching its highest level since mid-September.
Meanwhile, in the United States, the surge in sales of chip stocks on Wall Street dominated the market trend throughout the week. However, both the S&P 500 and the Nasdaq experienced significant losses. One of the key factors continuing to influence the market remains oil prices. After reaching a five-month high on Friday, the pressure on oil prices eased in the early trading session.
The price for a barrel (159 liters) of the reference Brent crude oil from the North Sea, to be delivered in December, fell by nearly 2% to around $108 per barrel. On Friday, the Brent price had risen to $110, marking its highest level since May. On Monday, conflicting signals emerged from the crisis region in the Middle East. There were again attacks on two tankers in the Persian Gulf and the Huthi militia, supported by Iran, attacked Saudi Arabia.
US Energy Minister Chris Wright, on the other hand, sought to calm the market by reassuring about supply from the Persian Gulf.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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