Although there were signs of stabilization before the trading session, the DAX continued its losses from the previous day on Friday.
The DAX opened Friday trading with a discount of 0.27 percent at 23,977.72 points and thus below the psychologically important 24,000 point mark. He then maintained the red signs and increased his losses. In the evening it closed 0.69 percent weaker at 23,876.55 points.
Before the weekend, there was nothing left of the recent good mood on the German stock market. The DAX fell back below the 24,000 point mark on Friday and did so significantly. According to statements made by representatives of the US Federal Reserve, the interest rate cut fantasy on the market was put on a serious damper.
DAX records at a glance
On October 9th, the DAX reached a new record high of 24,771.34 points. Ultimately, it ended that day at 24,611.25 units, which was also a new record based on the closing price.
Fed statements weigh on
In the hope of the now sealed end to the longest partial shutdown of US government business (shutdown), the DAX initially rose significantly this week before a correction occurred on Thursday and the rally towards its October high was slowed down. With the current discount, the chart picture has become noticeably cloudy again, and the record high of 24,771 points is moving into the distance.
In the USA, profit-taking had weighed on the indices the day before, with the NASDAQ stock exchange with the technology stocks concentrated there particularly badly hit. On Friday, the US stock exchanges developed differently at the end of trading in Germany. Some Fed members had signaled caution about future interest rate cuts, leading investors to now have doubts about whether the US central bank will cut interest rates again in December. To assess the economic situation, they are eagerly awaiting economic data, which can now be published again after the shutdown has ended.
The statements made by the US central bankers were effective and brought the stock markets back from their highs, commented stock market expert Andreas Lipkow. Investors were caught on the wrong foot at the end of the week. Good quarterly figures before the weekend were not enough to shake off risk aversion.
Reporting season in its final stages
The reporting season is now in its final stages. The focus in this country was Siemens Energy after its forecast increase for 2027/28 late the evening before, as well as Allianz with its figures.
Editorial team finanzen.net / dpa-AFX / Dow Jones Newswires