Despite good specifications: the DAX is still lagging behind

Market report

Status: 02/09/2021 8:09

Wall Street and Nasdaq race from record to record. However, the German stock market is unlikely to join this euphoric mood yet.

Indications on DAX are valued at approximately 14,057 points in the pre-trade trading of banks and brokers. This is a very slight decrease compared to yesterday’s level. This means that the German stock market cannot keep up with positive international developments on many stock exchanges. German standard shares in the DAX are developing largely disappointing. On the other hand, it goes better with second-tier shares in MDAX.

The Japanese stock market continued to grow on Tuesday. Japan’s leading Nikkei index rose 0.4 percent to 29,505 points at 225 points. In the foreign exchange market, the euro continues to strive upwards. The common currency gained 0.3 cents to $ 1.2083.

New record in bitcoins

The bitcoin rally continues. The cryptocurrency cost as much as $ 47,559 in the morning. Yesterday, electric car maker Tesla announced that it had bought bitcoins for $ 1.5 billion and that it would also accept currency to buy cars and other products in the future.

The car market in China continues

There is good news from the Chinese automotive industry. According to the Chinese industry association CAAM, the industry was able to sell 2.05 million units in January. This corresponds to an increase of almost 30 percent.

More price gains in America

At the beginning of the week, US stock markets continued to grow. The Dow Jones Industrial climbed 0.8 percent to 31,385 points. The broader S&P 500 index gained 0.7 percent to 3,915 points. The Nasdaq Composite Index advanced one percent to 13,987 points. With the sixth trading day in a row, the stock exchanges also recorded the longest series of gains since August last year.

The prospect of a nearly two trillion economic stimulus plan from Joe Biden’s new US administration, according to market observers, has created a good mood again. If so, the United States could return to full employment in 2022, said Treasury Secretary Janet Yellen. “Most investors are willing to take higher than normal risk,” said Matt Hanna, portfolio manager at Summit Global Investments. “There are several events that come together, almost unlimited expectations of economic growth, combined with companies that are actually doing quite well and that encourage very speculative behavior.”

Oil prices on the way up

The expected still good economic outlook is also raising oil prices. In the morning, the barrel (159 liters) cost up to $ 61.14. American WTI oil was paid up to $ 58.51.

Extra oil reserves

Already yesterday, the raw material became significantly more expensive and brought strong price gains to the shares of energy companies. Shares of Marathon Oil, Schlumberger, Exxon Mobil, a member of Dow Chevron and Occidental Petroleum rose 2.5 to 13.1 percent.

Will Qiagen be taken over?

The German-Dutch biotechnology company Qiagen, which is also listed in the USA, gained more than three percent. According to Bloomberg, the American specialist in the diagnosis of Quidel is examining the merger with Qiagen for several billion dollars. The report said the Americans had taken initial approaches to sounding Qiagen’s interests. However, negotiations were still at an early stage. It is therefore uncertain whether an agreement will be reached in the end.

Mark James

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