Stock market records do not match the political situation

D.he situation on the financial markets does not really fit the global political situation. While the supporters of the outgoing President Trump are storming parliament in America and governments in many countries are forced to continue tough measures because of the corona pandemic, traders are celebrating record highs on the stock exchanges.

The German leading index Dax even stood briefly at more than 14,100 points on Friday. The Dow Jones Index of the leading 30 American companies has been steadily above 30,000 points since the beginning of the year with rising prices.

And the cryptocurrency Bitcoin has also achieved amazing values. Only three weeks ago the price had topped $ 20,000 for the first time. In the past week, it was even more than twice as high. Many analysts see speculative considerations as a driver, in the most benevolent interpretation Bitcoin is increasingly being assigned a role comparable to gold – as a stable value in uncertain times.

But there are also serious doubts about that. Various factors are cited as the reason for the positive mood: With the majority in both chambers of parliament, which has been established this week, the future American President Joe Biden can, for example, implement investment programs without compromises.

For companies, coping with the pandemic continues to be the focus, depending on how they are affected. The tour operator TUI had a good week. A price increase of almost 35 percent documents a sharp rise in investor interest after the owners approved a state rescue package at the beginning of the week.

The TUI management drew attention to itself later in the week with demands: With the approval of another corona vaccine from the American manufacturer Moderna, it was time to relax restrictions and gradually allow travel again, said CEO Fritz Joussen on Thursday.

But the incidence values ​​in western countries are not falling as much as citizens and political leaders would like. In the meantime, economic indicators are also showing that there are again uncertainties.

The International Monetary Fund corrected its growth forecast for China from 8.2 percent in October to 7.9 percent now. The US job market lost 140,000 more jobs in December than had previously been expected. No major cuts yet, but indications that the mood may be too optimistic.

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