The stock indices continued to move higher today with relatively low trading volumes. However, given the shortened trading day in the US and the upcoming reporting season, many investors held back. The DAX® closed around 0.5 percent higher at 13,125 points and that of the EuroStoxx®50 0.7 percent higher at 3,295 points. Tomorrow the US banks will open the accounting season. They could give the markets significant impetus.
There was little movement on the bond market at the start of the week. The yield on 10-year Bunds closed at -0.537 percent and the yield on comparable US bonds at 0.78 percent. A similar picture emerged with precious metals. Gold defended the $ 1,920 mark and silver the $ 25 level. The oil price indicated a setback on Friday. Today the signal was confirmed. The price of a barrel of Brent Crude lost 2.7 percent to 41.70 US dollars. This continued the sideways trend between $ 39.30 and $ 43.70.
Company in focus
The New Zealand government secured delivery of 1.5 million doses of the Covid-19 vaccine from BioNTech and Pfizer. alliance and Daimler benefited from positive analyst comments. The next takeover in the semiconductor sector stimulated the entire sector. Infineon improved to EUR 27.85, the highest level since June 2001. Shop pharmacy ironed out the previous week’s losses and set course for the all-time high. Zalando marked a new all-time high. The latest hacker attack took the stock off Software AG continued under pressure today. This tipped the paper well below the EUR 40 mark. The was one of the strongest industry and strategy indices German climbers index as well as the Solactive® German mechanical engineering index
Tomorrow the reporting season is slowly gaining momentum. Reports from Germany Gerresheimer Figures for the past quarter. In the USA report tomorrow among other things Citigroup, Johnson & Johnson and JP morning over the past quarter. From Fraport come traffic numbers. Apple will introduce the new iPhone tomorrow.
- China – foreign trade
- Germany – consumer price index
- Germany – ZEW economic expectations
- USA – consumer prices
Chart technical outlook
Resistance marks: 13,145 / 13,250 / 13,320 points
Support marks: 12,960 / 13,015 / 13,080 points
The DAX® got off to a friendly start into the new week and closed around the daily high at 13,140 points. If the breakout above the mark is successful, there is a chance that the upward movement will continue to 13,250 points. On the downside, the index finds a broad support zone between 12,960 and 13,080 points. The bears should take the scepter below this range at the earliest.
DAX® in points; Hourly chart (1 candle = 1 hour)
Observation period: 11.09.2020 – 12.10.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: October 13, 2013 – October 12, 2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
Inline warrants on the DAX®
|Underlying||WKN||Sales price in euros||Lower knock-out barrier in Pt.||Upper knock-out barrier in pt.||Final Valuation day|
|DAX®||HR03N7||7.07||12,000||15,100||December 17, 2020|
Source: HypoVereinsbank onemarkets; Status: October 12, 2020; 5:49 pm
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