The market overview in the morning, put together by Dow Jones Newswires.
===
+++++ Daily topic +++++
According to central bank boss Jerome Powell, the US control interest is also based on the youngest Interest rate still on a “moderate restrictive” level. This implies more scope for further interest reductions this year, if the Offenmarkt Committee continues to believe that the recent weakening of the labor market weighs more heavily than the setbacks in inflation. According to the published speech, Powell largely repeated the points he had done in his press conference after the interest rate in the past week. He emphasized that the Fed faces challenges to achieve its two goals: keeping inflation low and stable and at the same time ensuring a healthy job market. “Two -sided risks mean that there is no risk -free way,” said Powell. He repeated his view that a slowdown in employment growth in summer justifies the monetary policy swivel in the past week to pay a little more attention to the labor market than at the beginning of the year. He avoided giving significant references to the next meeting of the Fed on October 28 and 29, although he did not decide to reduce the general market expectations of a further interest rate. He also confirmed his assessment that customs increases would probably lead to one -off price increases, the transfer of which could take some time through the supply chains.
+++++ Outlook Company +++++
09:30 ES/IBERDROLA SA, capital market day
During the day:
– NL/MFE Mediafore Europe NV, result 1h
+++++ Outlook economy +++++
– de
10:00 IFO business climatedex September
Forecast: 89.2
Before: 89.0
Diagonal assessment
Forecast: 86.5
Before: 86.4
Business expectations
Forecast: 92.0
Before: 91.6
11:30:30 Community forecast of the economic research institute
– be
15:00 Business climate index September
Forecast: -9.2
before: -8.9
– US
16:00 new construction sales August
Forecast: -0.5% GG VM
Before: +0.6% GG VM
+++++ Overview Futures / indices +++++
Current:
Index last +/- %
DAX Futures 23,697.00 +0.0%
E-Mini-Future S & P-500 6,665.70 +0.1%
E-Mini-Future Nasdaq-100 24,613.80 +0.1%
Nikkei-225 (Tokyo) 45,526.93 +0.1%
Hang-Seng (Hongk.) 26,396.49 +0.9%
Shanghai-Comp. 3,841.36 +0.5%
Tuesday:
DAX 23,611.33 +0.4%
DAX-Future 23,691.00 +0.1%
XDax 23,554.76 -0.2%
MDax 30,265.43 +0.4%
TECDAX 3,643.56 +0.4%
SDAX 17.008.73 +0.4%
Euro-stoxx-50 5,472.39 +0.6%
Stoxx-50 4,599.90 +0.1%
Dow -Jones 46,292.78 -0.2%
S & P -500 6,656.92 -0.6%
Nasdaq Composite 22,573.47 -0.9%
+++++ Financial markets +++++
EUROPE
Outlook: Europe’s stock exchanges are likely to start trading on Wednesday. Fed-recorded tones from Fed Chairman Jerome Powell press something on the mood. After the favorable European shopping manager indices from the previous day, the focus is on the publication of the IFO business climate index on Wednesday. For September, a slight improvement is expected for the collection index to 89.2 out of 89.0. German industry had recently given some signs of life, and investors had been somewhat more optimistic in the recent ZEW survey.
Review: The continued record hunting on Wall Street ensured a cautious inclination of purchase. The continued fixed euro was braking. “The strong euro harms the export -oriented economy,” said QC Partners. Economics, the shopping manager indices in September surprised the shopping manager indices more and more disappointing indices for industry. Europe -wide stocks of luxury goods manufacturers stood out with strong profits. The corresponding subindex of consumer goods manufacturers rose by 1.9 percent, as well as that of the retail shares. In contrast, armor shares were sold. They had still grown strongly on Monday. Regardless of the currently spa-stringing AI fantasy, ASM internationally came up with a reduced forecast. At 1.6 percent, the stock gave up rather moderately. With the ongoing housesee in semiconductor shares on the Nasdaq technology exchange, INFINEON, STMICRO by 2.7, ASML by 1.1, Aixtron by 4.4, Siltronic by 3.9 and Suss Microtec.
DAX/MDAX/SDAX/TECDAX
A little more firm – after the sale the day before the winning warning from Porsche AG and VW, the VW share recovered by 3.1 percent. The analysts of the RBC, which classified the share to “outperform”, gave a positive impulse with the comparatively favorable positioning of car production in Mexico. Because on imports from Mexico, the US tariffs are ultimately lower than for those from the EU. Porsche AG’s paper recovered by 2.3 percent, the Porsche Holding course rose by 2.5 percent. Lanxess shot by 9 percent with the news of wanting to get out of the joint company Envalior with the Advent Advent International. There is a sum of around 1.2 billion euros in the room. According to an interim report, TUI rose by 2.6 percent. For the upcoming winter season, the bookings were 1 percent above the previous year’s level, the average prices were still 3 percent, the travel group said.
Xetra after exchange
In the absence of new company news, there were no special movements for individual values.
USA – stocks
Easier – after the new record hunting from the beginning of the week, profit was taken. The Dow-Jones index had marked an all-time high in early business. New shopping manager indices hardly give any impulses. They failed to meet expectations for both the service sector and for industry. In view, the actors had appearances from US Federal Reserve, including central bank boss Powell. However, his statements largely failed because, as expected, Powell essentially repeated what he had only said in the previous week for cutting interest and the signaled further lowering. Boeing increased by 2.0 percent and supported the Dow as a heavyweight. According to US President Trump, the aircraft manufacturer has received an order from Uzbekistan Airways worth more than $ 8 billion. After her strong premium from the start of the week, Nvidia showed herself with a minus of 2.8 percent. The Apple share, which was also very fixed on Monday and Friday, gave up 0.6 percent. Kenvue recovered by 1.6 percent. On Monday, the stock fell to a record low after President Trump indicated that taking the painkillers Tylenol could lead to autism during pregnancy. From analyst circles it was said that this causal context was not proven.
US bonds
At the bond market, fresh impulses were missing, the ten -year return fell by 2 basis points to 4.12 percent after central bank boss Powell had kept the door open for interest rate cuts.
+++++ Foreign Market +++++
Foreigners last +/- % 0:00 the day before Tue, 19:05 % YTD
EUR/USD 1.1802 -0.1% 1.1815 1.1808 +13.9%
EUR/JPY 174.49 +0.1% 174.38 174.42 +7.0%
EUR/CHF 0.9348 -0.0% 0.9350 0.9349 -0.3%
EUR/GBP 0.8735 -0.0% 0.8738 0.8732 +5.5%
USD/JPY 147.85 +0.2% 147.59 147.72 -6.0%
GBP/USD 1.3511 -0.1% 1.3522 1.3522 +8.0%
USD/CNY 7.1115 +0.1% 7.1046 7.1045 -1.4%
USD/CNH 7.1195 +0.1% 7.1130 7.1130 -3.0%
From/USD 0.6620 +0.3% 0.6598 0.6605 +6.6%
Bitcoin/USD 112.410.10 +0.2% 112,177.70 112,752.10 +19.0%
YTD based on the final score of the previous day
The dollar continued to weaken after giving in more clearly the day before, burdened by the prospect of a reducing interest advantage over the euro. The euro changed with $ 1.1818, near a four -year high.
++++ Raw materials +++++
OIL
Row oil last VT-Settlem. +/- % +/- USD % YTD
WTI/Nymex 63.49 63.41 +0.1% 0.08 -13.3%
Brent/ICE 67.70 67.63 +0.1% 0.07 -11.0%
YTD based on the final score of the previous day
The oil prices attracted around 2 percent after the decline on the previous days. According to retailers, drivers were the attacks on Russian oil systems by Ukraine and reports that Russia is supposed to consider extending the restrictions on fuel exports in order to meet domestic needs. For this purpose, Trump renewed his demand to the EU countries to hire the purchase of Russian oil.
Metals
Metals last the last day +/- % +/- USD % YTD
Gold 3,773.05 3,764.29 +0.2% 8.76 +42.8%
Silver 44.17 43.98 +0.4% 0.20 +52.6%
Platin 1,257.49 1,254.47 +0.2% 3.02 +37.5%
Copper 4.64 4.64 -0.1% 0.00 +12.9%
YTD based on the final score of the previous day
(More to follow) Dow Jones Newswires
September 24, 2025 01:31 ET (05:31 GMT)