30 AM local time, a decrease of 0..2 percent compared to the previous day’s close. Leading the gains were shares of Rheinmetall, Porsche and Siemens Energy, while SAP, Infineon and Deutsche Bank posted losses.
Market attention today is focused on the preliminary inflation rate for August. Analysts anticipate stable prices month-over-month, but expect a moderate increase in the annual rate due to price declines recorded in August of the previous year, according to QC Partners’ Thomas Altmann.
Altmann noted that the US S&P 500 index reached another record high yesterday, coinciding with a year-low for its volatility index, the VIX. This combination suggests investor confidence on Wall Street and an expectation of continued positive market conditions.
Regarding the DAX, Altmann observed a persistent pattern of upward resistance. While a dip below 24,000 points could trigger buying activity, he anticipates potential shifts in this support level.
The enthusiasm seen on Wall Street isn’t currently translating to the DAX. The DAX has seen a gain of just 0.55 percent in the second half of the year, while the S&P 500 has risen by 4.8 percent over the same period.
The Euro weakened slightly on Friday morning, trading at 1.1670 US dollars. Conversely, one US dollar was worth 0.8569 Euros.
Oil prices also edged lower, with Brent crude futures trading at 68.17 US dollars per barrel around 9:00 AM CET, representing a decrease of 45 cents, or 0.7 percent, from the previous session’s close.