30 am – a 0..3 percent increase from the previous day’s closing level.
Market analysts suggest a potential for further gains in the DAX this week, noting a seasonal shift and a breach of the long-held sideways trading range between 23,700 and 23,800 points. The index has thus far resisted a speculated September correction, supported by sustained investor interest. This sentiment, combined with favorable seasonal indicators expected from mid-week onwards, could potentially reward patient investors with further increases in the DAX throughout the final quarter.
Across the Atlantic, US investors appear to be overlooking the risk of a potential government funding lapse, focusing instead on the earnings season commencing in mid-October. Elevated expectations regarding profit margins, spurred by advancements in artificial intelligence and cloud computing, are contributing to the optimism. Repeated instances of companies revising their forecasts upwards, coupled with a relative scarcity of profit warnings, are also bolstering confidence. Prior agreement resolutions on government funding concerns have reduced perceptions of serious imminent risk.
The possibility of a further interest rate cut by the US Federal Reserve in October has increased following the release of the anticipated Personal Consumption Expenditures index on Friday. The Fed may prioritize supporting the labor market while monitoring inflation trends. Consequently, Wall Street is being propelled by a combination of interest rate reduction anticipation and growing profit expectations, attracting potential equity buyers despite prevailing high valuations.
The Euro strengthened on Monday morning, trading at $1.1729, or €0.8526 per dollar.
Gold prices experienced a notable increase, reaching $3,815 per fine ounce (+1.5 percent), equivalent to €104.58 per gram, marking the first time the price has surpassed the $3,800 threshold.
Conversely, the oil price has decreased. Brent crude, a benchmark for North Sea oil, was trading at $69.59 per barrel around 9 am German time – a 0.8 percent decrease from the previous day’s closing price.