Frankfurt (Reuters) – According to calculations by banks and brokerage houses, the Dax will start lower on Wednesday.
On Tuesday it closed 0.4 percent lower at 16,153 points. The ongoing dispute over the US debt limit had made investors nervous. The most recent summit meeting between US President Joe Biden and the chief negotiator for the opposition Republicans, Kevin McCarthy, ended again on Monday evening without a result. The two sides were optimistic that they could find a compromise. However, in view of the imminent government default if the fronts harden again in Washington, experts urged caution.
The focus on the German stock market is the survey data on the business climate in May, which the Munich Ifo Institute presented in the morning. Analysts polled by Reuters expect the index to fall to 93.0 points from 93.6 points in April. In addition, Federal Minister of Finance and FDP leader Christian Lindner will have to answer questions from the budget committee of the Bundestag. Details on the 2024 budget preparation schedule are awaited.
Across the Atlantic, the US Federal Reserve is releasing the minutes of its early May meeting. It raised the key interest rate further – by a quarter of a percentage point to the new range of 5.0 to 5.25 percent. Investors are hoping the transcripts will provide clues as to whether the Fed will pause in June or continue the series of rate hikes.
Closing prices of European indices as of
on the previous trading day
dax
16,152.86
Dax future
16,106.00
EuroStoxx50
4,342.38
EuroStoxx50 Future
4,326.00
US indices closing prices at level change
previous trading day
Dow Jones
33,055.51 -0.7 percent
Nasdaq
12,560.25 -1.3 percent
S&P 500
4,145.58 -1.1 percent
Asian indices on Wednesday stand change
Nikkei
30,791.67 -0.5 percent
Shanghai
3,228.01 -0.6 percent
hang seng
19,254.14 -0.9 percent
(Report by Zuzanna Szymanska. Edited by Christian Götz. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets).)