The stock market start to 2024 could be positive on Tuesday.
After a directionless period around Christmas, the DAX trended upwards by 0.46 percent to 16,828.75 points at the start of the year. As the market progresses, the stock market barometer continues to rise. The all-time high of 17,003.28 points still needs to be beaten.
Despite the slight price gains, trading is likely to be quiet, as the daily agenda initially has little to offer in terms of news.
Specifications from Asia negative
New impulses from the leading stock exchange in New York only come during the day after the New Year’s break. The specifications from Asia are rather negative, with price losses in Hong Kong, for example. The reason is that, according to the government indicator, the mood in China’s industrial companies has deteriorated again, contrary to the expectations of experts. However, the Caixin index, which focuses on smaller and private companies, surprisingly brightened.
January rally in the DAX is unlikely
Another point in favor of a quiet start to the year is that experience shows that many market players do not return until later in January. A similarly strong start to 2023, when the DAX gained around nine percent by mid-January, is unlikely given the recent rally. With a gain of around 20 percent, 2023 was the second best year for the leading index since 2013. Analyst Thomas Altmann from QC Partners recently emphasized that the recent price gains in stocks and bonds would have to undergo a “reality check” in the new year.
Editorial team finanzen.net / dpa-AFX