On Friday, the German stock market barometer remained above the 25,000 point mark. The focus is on the US labor market report, which will be published in the afternoon.
The DAX reached new all-time highs in Thursday trading. On Friday it started the session with a minimal discount of 0.01 percent at 25,124.02 points. Even after that, the stock market barometer remained at the previous day’s level.
The latest DAX record
Yesterday, Thursday, the DAX reached a new all-time high of 25,217.52 points. Ultimately, it ended the day at 25,127.46 points, which also meant a new record based on the closing price.
January effect
“The DAX continues to work on the so-called January effect,” writes chart technology expert Martin Utschneider from the broker Robomarkets. This is the stock market phenomenon of an above-average development in the first month of the year. Reasons for this ranged from newly invested capital to tax-motivated sales in December to optimism after the turn of the year.
US labor market report in focus
There is a good mood on the stock markets, although the overall geopolitical situation has not improved at the beginning of the new year. US President Donald Trump’s policies are making more headlines again as protests in Iran come to a head. The job market report from the USA, which has particular importance for the monetary policy of the US Federal Reserve Bank, is likely to be in critical focus on Friday.
Editorial team finanzen.net / dpa-AFX / Dow Jones Newswires