Current Dax: Dax is slightly up – nervousness ahead of the US midterms
In addition to the US midterm elections, the reporting season for major German companies is ongoing. Will the leading index manage to jump back above the 26,000-point mark at the start of the month?
Düsseldorf - The DAX, Germany's leading stock market index, opened this week slightly above after a minor correction from the previous Friday. However, the index showed a modest gain of 0.5 percent at 25,912 points during Monday's trading session. On Thursday, the DAX had briefly surpassed the 26,100 mark for the first time since early September before being halted by a lack of momentum in the United States and Asia, primarily due to tech sector weakness.
By the end of the trading week, the DAX had slipped back 0.9 percent, closing at 25,808 points after four consecutive days of gains. This decline was driven by a fresh wave of selling in the technology sector following the release of earnings reports from Amazon and Intel. Additionally, the prospect of U.S. midterm elections held on Tuesday, coupled with rising oil prices, added to investor uncertainty.
While the DAX remained relatively unscathed by events in the United States, it did not fall as sharply as the more technology-oriented U.S. indices. The Nasdaq 100, in particular, had a disappointing trading day, marking the week's worst performance since June and its second weakest in the current year.
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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