Dax aktuell: Dax öffnet unverändert – Nervosität vor den US-Midterms

The Dax index opened unchanged from its slight dip on Friday as trading began on the week. The index opened at 25,797 points on Monday morning. Previously, on Thursday, the Dax had climbed back over 26,100 points for the first time since early September before being brought down by tech weakness in the US and Asia on Friday. The index closed at 25,808 points on the last trading day of the week, down 0.9 percent after four days of gains.

A renewed sell-off in the technology sector following Amazon and Intel earnings reports pressured the prices on Friday. Concerns over the upcoming US midterm elections on Tuesday and a rise in oil prices also unsettled investors. While the Dax was not directly affected by the US events, it did not fall as sharply as the more technology-heavy US indices.

The lack of large tech weight in the Dax helped it avoid the worst trading day since June, the second worst in the year, for the Nasdaq 100. As the main market event of the day, Apple's quarterly results are particularly important for the Dax. Other companies reporting earnings today include Palantir and Irish airline Ryan Air. Investor nervousness ahead of the US midterm elections may test the Dax in the coming days.

These elections will determine who controls President Donald Trump in the future and shares in shaping laws and government spending. All members of Congress, the House of Representatives and roughly a third of the Senate, will be elected. The result of the midterm elections could immediately impact oil prices and inflation expectations due to fears of an escalation in the Iran war.

If Trump loses his Republican majority in the House of Representatives as expected, he could become a 'lame duck' and potentially provoke further escalation in the Middle East. Many investors are expected to take a defensive stance before the high-stakes US midterm elections on Tuesday. Despite concerns about the US midterms, oil prices initially fell again on Monday.

Brent crude, the reference barrel for January deliveries, fell to $110 per barrel, a three percent decline from Friday's close. A media report about US President Trump's diplomatic efforts in the Iran conflict eased fears of renewed American military strikes, further dampening concerns about a rapid resumption of military action.

The geopolitical situation in the coming days will be decisive for the further development of oil prices. Experts predict that if the midterm elections pass without any military action or agreement, the key question will be whether the market continues to price in significant geopolitical risk premiums or if this premium gradually diminishes.

In economic data, investors await September's German retail sales figures, the industrial purchasing managers' indexes for the Eurozone and the US in October.