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A good trading floor for investors: the Frankfurt Stock Exchange
Photo: STAFF / REUTERS
The Fed has not yet had enough, the Fed is continuing - that was the most important message for the international stock exchanges on Thursday and gave the German Dax share index a new record: It closed at 16,029 points in the evening - and thus higher than ever before.
The latest decisions by the US Federal Reserve (Fed) and generally strong New York stock exchanges have further fueled the price rally.
It is true that the Fed is beginning to exit its multi-billion dollar security purchases, which it launched to stimulate the economy.
Overall, however, it wants to continue pursuing an extremely loose monetary policy and - despite rising inflation figures - still take its time to raise interest rates.
Fed Chairman Jerome Powell made it clear that the central bank was less concerned about rising inflation than about the fact that the US labor market has not yet fully recovered from the Corona recession.
British central bank keeps key interest rate low
The monetary authorities continue to regard the rise in inflation as a temporary matter.
The signals from the US Federal Reserve from the previous evening were thus to the liking of investors.
Brokers are now relieved that there is finally clarity about the future monetary policy course of the Fed, wrote market expert Thomas Altmann from asset manager QC Partners.
The British central bank did not initially raise its key rate on Thursday, despite speculation to the contrary.
She only envisaged an early rate hike.
Without provisional rate hikes, the stock market is likely to remain an attractive place to invest money for the time being.
However, given the rise in equity valuations, the risk of profit-taking increases.
The stock market adage "Sell on good news" - that is, use good news to sell - could prove to be true once more, especially in the case of positive surprises for companies.
Among the best values in the Dax, the shares of Deutsche Post rose by around three percent after quarterly figures and a forecast that was again raised.
beb / dpa
