German equities began the trading day Friday with modest losses. By 9:30 AM local time, the DAX was calculated at 23,990 points, representing a decrease of 0.2 percent compared to the previous day’s closing value. Leading the gainers were Rheinmetall, Porsche and Siemens Energy, while SAP, Infineon and Deutsche Bank posted losses.
Today’s market focus is on the preliminary inflation rate for August. Analysts anticipate stable prices month-over-month, though a moderate increase in the annual rate is expected due to declining prices in August of the previous year, according to Thomas Altmann of QC Partners.
Altmann also noted that the US S&P 500 index reached another record high yesterday, coinciding with the VIX volatility index falling to a year-low. This combination suggests a degree of investor confidence and an expectation of continued positive market conditions on Wall Street.
Regarding the DAX, Altmann observed a persistent pattern of upward resistance. While a dip below the 24,000-point mark could trigger buying activity, there’s potential for that support level to gradually shift lower.
The positive momentum seen on Wall Street has yet to translate to the DAX. Year-to-date, the DAX has gained approximately 0.55 percent in the second half of the year, lagging behind the S&P 500’s 4.8 percent increase during the same period.
The Euro experienced a slight weakening Friday morning, trading at 1.1670 US dollars. Conversely, one US dollar was worth 0.8569 Euros.
Meanwhile, crude oil prices declined, with Brent crude futures trading at 68.17 US dollars per barrel around 9:00 AM Central European Time-a decrease of 45 cents, or 0.7 percent, from the previous day’s closing price.
