Markets

Daily outlook for July 30th: DAX awaits Fed decision. Apple and Amazon in the spotlight!

The stock markets remained listless again today. There was simply no significant impetus. So the DAX® oscillated in a narrow range and closed little changed at 12,820 points. A similar picture emerged with the EuroStoxx®50, which stagnated at 3,300 points. The Fed rate decision is due tonight, followed by the press conference with Fed chief Jerome Powell, and the Fed decision may provide momentum. Tomorrow, in addition to the US labor market data, a flood of balance sheet data will follow. The focus is particularly on stocks from Apple, Amazon and Facebook.

The bond market stabilized. The yield on 10-year federal bonds stagnated at -0.50 percent. The yield on comparable US securities remained at 0.60 percent. Most of the precious metals were able to maintain their level of the previous days. Only palladium came under significant pressure. The sideways movement of the past few weeks has continued on the oil market. The drop in inventories gave the oil price a little boost today. The price of a barrel of Brent Crude Oil still fluctuated between $ 43 and $ 44.

BASF was still cautious when presenting the Q2 data. The stock reacted with a significant discount. puma got to feel the corona crisis clearly. Sales fell by around 30 percent and EBIT even plunged into the red. The share was nevertheless able to distance itself significantly from the support level of EUR 66 and also helped the Adidas-Share for easy profits. Real estate stocks such as were again friendly Aroundtown, Deutsche Wohnen and Grand City. Gerresheimer and ProSiebenSat.1 benefited from positive analyst comments. The battery manufacturer Varta was able to iron out yesterday’s losses today. However, the bulls lacked the power for more. Nordex could not even inspire a large order from Colombia today. Rather, the paper dropped to EUR 9 Shop pharmacy meanwhile, profit-taking showed up.

Tomorrow, from Germany, among other things Airbus, Fresenius, HeidelbergCement, Kion, Linde, Porsche, Rational and Wacker chemistry Publish figures for the past business quarter. The figures for the rest of Europe are Danone, Nestlé, ENI, Total and Vivendi and from the USA the data from Alphabet, Amazon, Apple, Eli Lilly, Facebook, Ford Motors and Procter & Gamble in the focus of investors.

Important appointments

  • Germany – GDP Q2, provisional
  • Germany – labor market data
  • Europe – economic confidence, business climate, consumer confidence Euro zone, July
  • USA – Initial jobless claims for the week ending July 25
  • USA – GDP, Q2, first estimate

Chart-technical outlook

Resistance marks: 12.840 / 12.890 / 12.930 / 13.020 / 13.100 points

Support marks: 12,560 / 12,720 / 12,780 points

The DAX® today fluctuated between the support level of 12,780 points and the 38.2% retracement level (12,840 points). From a technical point of view, if the break above the upper limit is successful, the index gets up to 12,900 points. Buying mood, however, is likely to arise above 12,930 points (50% retracement line) at the earliest. Until then, resets of up to 12,720 points must still be expected.

DAX® in points; Hourly chart (1 candle = 1 hour)

Viewing period: 09.07.2020 – 29.07.2019. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

DAX® in points; Weekly chart (1 candle = 1 week)

Viewing period: 07/30/2014 – 07/29/2019. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

Inline warrants on the DAX®

UnderlyingWKNSales price in eurosLower knock-out barrier in Pts.Upper knock-out barrier in pointsFinaler Valuation day
DAX®HZ22QZ5.1511,00013,70017.09.2020
DAX®HZ22NB7.4310,60014,00017.09.2020

Source: HypoVereinsbank onemarkets; As of July 29, 2020; 5:42 p.m.

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