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MarketFlick Insights
DAX Steady Amid US Labor Data and Corporate Developments
At a glance
- •DAX stabilizes with a 0.5% gain after previous losses.
- •US labor data and corporate earnings are key focuses today.
- •Airbus receives an upgrade from UBS; MTU is downgraded.
- •Tech stocks Apple and Alphabet boost US markets.
- •Mixed performance in Asian markets with Japan's Nikkei up and China's CSI 300 down.
The DAX index showed resilience on Wednesday, recovering from the significant losses of the previous day. It closed with a 0.5% gain at 23,594.80 points. As the market opens today, indications suggest further stability, with early morning estimates from IG Broker placing the index at 23,614 points, a slight increase of 0.1%.
Market Analysis
Today's focus shifts to the US labor market data, which is anticipated to influence trading sentiments. On the corporate front, Broadcom and Ciena Corporation are set to release their quarterly earnings. Meanwhile, Salesforce reported its earnings post-market hours on Wednesday, with a weaker outlook than some analysts anticipated. In Germany, attention turns to SAP, a key competitor of Salesforce. The Deutsche Börse announced changes effective September 22, with Porsche AG and Sartorius moving to the MDAX, while Scout24 and Gea will be newly included in the DAX.
Analyst Ratings and Market Movers
Analyst updates may also drive market movements today. UBS has become more optimistic about Airbus, upgrading its rating from "Neutral" to "Buy" and raising the target price from 180 to 220 euros. Conversely, MTU saw a downgrade from "Buy" to "Neutral," with its target price reduced from 485 to 400 euros. Goldman Sachs remains bullish on Heidelberg Materials, initiating coverage with a "Buy" rating and a target price of 240 euros. Investors are also keeping a close watch on the previous day's top performers and laggards in the DAX. Adidas, Zalando, Airbus, Bayer, and Siemens Energy led the gains, while Infineon, Continental, and Heidelberg Materials were among the weaker performers. In commodities, the price of gold has slightly retracted from its recent peaks, trading at $3,532 per ounce, while silver is priced at $40.83 per ounce. Bitcoin remains stable, currently valued at $110,693.
Global Market Overview
In the US, tech giants Apple and Alphabet provided positive momentum, yet the Dow Jones closed nearly unchanged at 45,271.23 points. The broader S&P 500 rose by 0.5% to 6,448.26 points, and the tech-heavy Nasdaq 100 increased by 0.8% to 23,414.84 points. Asian markets presented mixed outcomes on Thursday morning. Japan's Nikkei 225 gained 1.5%, while China's CSI 300 fell by 2.1%, and Hong Kong's Hang Seng was down by 1.1%. DER AKTIONÄR will continue to provide updates on significant developments across both national and international markets throughout the day.