FRANKFURT (dpa-AFX) – After a changeable start to the new stock market year 2024, the Dax is likely to lose a few points on Wednesday. Near 17,000 points the day before he was only 40 points shy of setting another record, but he didn’t have the strength for more. This is likely to continue on the second trading day of the year: The broker IG valued the Dax (DAX 40) 0.3 percent lower at 16,724 points two and a half hours before the Xetra start. Only at 16,663 points would he be able to test the 21-day line again.
The Commerzbank experts are observing some risk aversion among investors in the new year after the DAX had the best stock market year since 2013 in 2023. This was reflected in a corrective movement on the US technology exchange Nasdaq the evening before in New York. Investors are eagerly awaiting economic data that is important for the further course of monetary policy. They also decide whether the priced-in interest rate reduction expectations are justified.
On Wednesday there will be the purchasing managers’ index for US industry, which will be published by the US institute ISM. This is supplemented by the minutes of the US Federal Reserve Bank, which could reveal details from the last interest rate meeting. According to Commerzbank, the focus is heavily on news about the US job market over the course of the week, which will be crowned with the official labor market report on Friday./tih/jha/