30 am – a 0..3 percent increase from the previous day’s closing level.
Market analysts at CMC Markets noted the potential for the DAX to surpass established limits this week. The index has successfully resisted a potential correction often associated with the month of September, supported by consistent buying interest. Favorable seasonal factors, beginning mid-week, could potentially reward patient investors with further upward movement in the DAX during the final quarter.
Across the Atlantic, investor focus has shifted away from concerns about a potential US government funding shortfall, with attention now directed toward the upcoming earnings season starting in mid-October. Optimism surrounding profit margins and growth prospects, fueled by advancements in artificial intelligence and cloud computing, is driving market sentiment. Several factors, including a limited number of profit warnings and an increasing number of companies raising their forecasts, contribute to this positive outlook. Investors largely view the possibility of a government shutdown as minimal, citing a history of last-minute agreements.
Following the release of the expected Personal Consumption Expenditures index on Friday, the probability of another interest rate reduction by the US Federal Reserve in October has increased. The Fed may continue to prioritize supporting the labour market while inflation trends as anticipated. US stock market performance is currently influenced by a combination of hopes for interest rate cuts and rising earnings expectations, which are proving attractive to potential investors despite prevailing high valuations.
The euro strengthened in early Monday trading, fetching $1.1729, equivalent to €0.8526 per dollar.
Gold prices experienced a significant boost, reaching $3,815 per fine ounce (+1.5%), translating to €104.58 per gram. This marked the first time the price has exceeded the $3,800 threshold.
Conversely, oil prices declined. Brent crude, a benchmark North Sea variety, traded at $69.59 per barrel around 9 am German time, a decrease of 54 cents or 0.8 percent compared to the previous trading day’s closing price.
