After recovering for several days, the leading German index took a breather on Thursday and only posted small gains. Investors continue to hope for a year-end rally.
The DAX started Thursday trading marginally firmer at +0.03 percent at 23,732.81 points and then worked its way more clearly into the profit zone.
Past DAX records at a glance
On October 9th, the DAX reached a new record high of 24,771.34 points. Ultimately, it ended that day at 24,611.25 units, which was also a new record based on the closing price.
November losses ironed out thanks to interest rate hopes and Ukraine fantasy
“The DAX has almost made up for its November losses. Since the American central bank raised interest rate hopes, there has been hardly any sign of fear on the trading floor. The November blues have quickly turned into a Thanksgiving rally,” commented market analyst Jochen Stanzl from Consorsbank.
The markets have recently been driven primarily by the hope of an end to the war in Ukraine and a certain level of interest rate optimism. In the USA, the market-wide S&P 500 managed to get close to its correction trend from the record at the end of October the evening before.
US stock markets closed for Thanksgiving
Meanwhile, no fresh impulses are expected from the USA this Thursday: there will be no trading on the US stock exchanges due to the Thanksgiving holiday.
Investors are eyeing a year-end rally
With the recent losses quickly offset and the current upward movement on Thursday, investors are increasingly turning their attention to the traditional year-end rally. Market participants are speculating that the combination of the easing inflation pressure, the associated possible Interest rate cut the US Federal Reserve and optimism regarding geopolitical easing could further boost prices in the final weeks of the year. The current mood suggests that risk appetite in the market is increasing again.
Editorial team finanzen.net / dpa-AFX / Dow Jones Newswires