Exchange: Dax without momentum, new Bitcoin record

Enlarge image

Deutsche Börse in Frankfurt am Main:

The Dax is

near a record high, a Bitcoin costs more than 68,000 US dollars

Photo: A3471 Boris Roessler / dpa

According to calculations by banks and brokerage houses, the Dax will start lower on Tuesday.

At the start of the week, investors had taken a breather after the previous record hunt.

On Wall Street, however, investors were still in the buying mood.

The passage of the billion dollar infrastructure bill in the US drove the courses to new record highs on Monday.

The balance season is still in full swing.

The Porsche SE holding company, among others, presents quarterly figures.

The Porsche and Piech families hold the majority of Europe's largest car group Volkswagen through the holding company that was promoted to the Dax in September.

Volkswagen boss

has come under massive criticism for comments about a possible downsizing.

Bayer, Munich Re, Fraport and Biontech also provide insight into their books.

The ZEW index, which reflects the mood of German stock market professionals, is on the agenda for economic data.

Analysts expect a deterioration in November to 20 points from 22.3 points in the previous month.

Investors in Asia take profits

Investors in Asia cashed in on Tuesday ahead of the upcoming US inflation data.

The strained US labor market and global supply shortages could result in high consumer price readings on Wednesday's data.

High inflation would fuel speculation among investors about an earlier than planned hike in interest rates by the US Federal Reserve.

"Although Chairman Jerome Powell claims the Fed can be patient with rate hikes, the clock is ticking to see how long it can hold this line," ANZ analysts wrote in a note.

The Nikkei Index, which comprises 225 values, was 0.6 percent lower at 29,335 points.

The broader Topix index fell 0.6 percent and stood at 2024 points.

Another record price for Bitcoin

Bitcoin, the world's most famous digital currency, has continued to soar. On Tuesday night, the price on the Bitstamp trading platform rose above the $ 68,000 mark for the first time. The price of a Bitcoin climbed to $ 68,564 before falling back a little. At around $ 68,000, the price was still slightly up. With the new record, the Bitcoin continues its rally of the past few weeks. The digital currency has risen by around 130 percent since its annual low in July.

Since the end of 2020, the increase has thus totaled around 850 percent.

The market value of Bitcoin was last at just under $ 1.3 trillion.

The rates of other digital currencies such as Ether and Binance Coin also increased.

Most digital stocks have recently benefited from the good mood on the stock markets.

Since cryptocurrencies are considered extremely risky investments, their price often fluctuates with the general mood on the stock market.

Oil prices hardly moved

Oil prices initially barely moved in early trading on Tuesday.

In the morning, a barrel (159 liters) of North Sea Brent cost US $ 83.48.

That was five cents more than the day before.

The price of a barrel of the American West Texas Intermediate (WTI) rose by eight cents to $ 82.01.

The top topic on the market remains the high level of oil prices and the resulting consequences. It has been discussed for a few days whether the US could release part of its strategic oil reserves. On Monday, US Secretary of Energy

said President

could make an announcement this week in view of the high oil and fuel prices. However, Granholm did not name any concrete measures.

The background to the debate is that some observers believe that the major crude oil-producing countries are too cautious.

The oil alliance Opec +, led by Saudi Arabia and Russia, is increasing its production step by step, but at a moderate pace.

In view of the rapidly increasing demand due to the economic situation and the current high oil prices, large consumer countries such as the USA are pushing for a greater increase in production.

With news agencies