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In the United States, a Democratic victory in Georgia is looming. If this is confirmed, the Democrats would have a majority in both chambers and the future President Joe Biden could push through reform plans more easily. There was already enough hope to drive the majority of the markets higher. At the close of trading, the DAX® tested the resistance level of 13,900 points and the EuroStoxx®50 cracked the level of 3,610 points. The Dow Jones® hit a new all-time high in the first few hours of trading. Sector indices such as the Global Hydrogen Index and strategy indices such as the Deutsche Aufsteiger Index were also noticeably strong.
Yields on the bond market rose sharply today. The yield on long-term Bunds jumped six points to minus 0.54 percent, and the yield on comparable US bonds jumped by ten points to around 1.05 percent. In the case of precious metals, however, slight profit-taking was pending following the recent recovery. The OPEC + countries agreed to cut production in the next two months. This and a decline in crude oil stocks supported the price of oil today. The price for a barrel of Brent Crude Oil was around 54 US dollars.
Company in focus
Alliance, RWE and Siemens Healthineers benefited from positive analyst comments today. The share of K + S continued the upward trend and rose to its highest level since January 2020. It has widened in the past few months Bayer the commitment in the field of gene therapies with takeovers and cooperation is steadily increasing. Today the life science group announced a stake in the US biotech group Senti Bioscience. BASF again received support from the rising oil price and improved to its highest level since the beginning of 2020. Yesterday’s announcement of the new CommerzbankCEO Manfred Knof gave the share wings today too. The hope of an economic recovery and continued speculation about a merger between Salzgitter and ThyssenKrupp drove the two steel stocks higher today.
- Germany – incoming orders from industry, November
- Europe – Euro Zone Retail Sales, November
- Europe – Business Confidence, Business Climate, Euro Zone Consumer Confidence, December
- Europe – consumer prices, December
- USA trade balance, November
- United States – Initial Jobless Claims for the Week Ending Jan 2nd
Chart technical outlook
Resistance marks: 13,900 / 14,100 points
Support marks: 13,700 / 13,780 points
After yesterday’s setback, the bulls took control again today and pushed the DAX® to 13,900 points. If the breakout above the mark is successful, there is a chance that the upward movement will continue to 14,100 points. On the downside, the index finds broad support between 13,700 and 13,780 points.
DAX® in points; Hourly chart (1 candle = 1 hour)
Observation period: December 15, 2020 – January 6, 2021. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: January 7, 2014 – January 6, 2021. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
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|Underlying||WKN||Selling price in EUR||lower barrier in points||upper barrier in points||Last valuation day|
Source: HypoVereinsbank onemarkets; 01/06/2021; 5:41 pm
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The daily outlook for 07.01 .: DAX jumps to 13,900 points. Focus on banks and oil! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pfadenhauer
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