Dax and cryptocurrency Bitcoin with price rally and recovery attempt on the stock exchange

Enlarge image

Bull and bear on the stock market:

After the recent price slide, the Dax is starting an attempt to recover

Photo:

Boris Roessler / dpa

After the most recent setback, a strong recovery is emerging in the Dax on Tuesday.

The broker IG valued the German leading index around two and a half hours before the Xetra launch, a good 0.8 percent higher to 15,886 points.

The German benchmark index thus seems to be holding the 21- and 50-day average lines that it had touched the day before.

They are considered a barometer for the short and medium-term trend.

The last weak Wall Street already witnessed a clear reaction the evening before, which even drove the indices of the technology exchange Nasdaq into positive territory.

The Dow Industrial was able to hold the 50-day line after a loss of up to 3.5 percent since the record of the previous week.

According to the experts at Credit Suisse, investors used the clear setback to get started again.

The markets are currently riding roller coaster, it was said.

Most recently, interest rate concerns due to high inflation were responsible for the slide.

The Nasdaq 100 tech index fell by up to 2.2 percent in trading on Monday, but then closed slightly in positive territory after a race to catch up in late trading.

Jerome Powell hearing in the US Senate

Investors are hoping for information on the timeframe for the planned interest rate turnaround in the US from a survey of Federal Reserve Chairman Jerome Powell, who will be heard by the Senate Banking Committee on his nomination for a second term at the head of the Federal Reserve later this day.

More and more investors expect an initial rate hike as early as March.

In the face of rising inflation, there is growing pressure on the monetary authorities to tighten the monetary reins more quickly.

Asia's stock markets weaker

Asian exchanges are hiding from US inflation data on Tuesday. Consumer inflation for December is due to be announced on Wednesday (local time) and is expected to rise by seven percent year-on-year. This suggests that the US Federal Reserve will raise interest rates sooner rather than later. "There are many short-term factors like the global supply chain and the reopening of economies. Once these things normalize, inflation should come back to reasonable levels and the Fed is unlikely to intervene too much," said Hou Wey Fook, chief executive of the Investment division at DBS Bank.

The Nikkei index, which comprises 225 values,

at 28,286 points.

The broader Topix index fell 0.5 percent and stood at 1987 points.

The Shanghai stock exchange was 0.1 percent in the red.

The index of the most important companies in Shanghai and Shenzen lost 0.3 percent.

In Asian foreign exchange trading, the dollar gained 0.1 percent to 115.36 yen and was down 0.1 percent to 6.3709 yuan.

In relation to the Swiss currency, it was quoted 0.1 percent lower at 0.9264 francs.

At the same time, the euro rose 0.1 percent to 1.1339 dollars and rose 0.1 percent to 1.0507 francs.

The pound sterling gained 0.1 percent to $ 1.3593.

Dow Jones weaker, catching up on the Nasdaq

Thanks to a race to catch up in late trading, the US indices on the Nasdaq technology exchange turned positive on Monday.

The

, which had previously been pushed down by fear of interest rate hikes to its lowest level since mid-October, crossed the target with an increase of 0.2 percent to 15,614 points.

Bargain hunters would have used the renewed attack of weakness to get started, it was said from the trade.

The standard values ​​also reduced their discounts noticeably.

At the end of trading, the leading Dow Jones Industrial index was only 0.45 percent lower at 36,068.87 points.

The market-wide S&P 500 reduced the minus to 0.14 percent at 4670.29 points.

The first week of trading in 2022 went very badly for technology stocks.

Investors worry that higher interest rates and thus more expensive financing could slow down the momentum in the growth industry.

We are now waiting with nervousness for the inflation data due in the middle of the week.

The US Federal Reserve should see its tightening of monetary policy confirmed if inflation continues to rise.

The economists at Goldman Sachs are now expecting four rate hikes by the Fed this year, while three hikes have been generally assumed so far.

Bitcoin starts recovery attempt

Bitcoin climbed back above the $ 42,000 mark on Tuesday night.

On Monday, it fell below the $ 40,000 mark for the first time since September.

The oldest and world's best-known cryptocurrency has been under pressure since the beginning of the year.

Bitcoin is currently trading around 40 percent below its record high of around $ 69,000 on November 10th.

Other major digital currencies like ether also came under severe pressure.

Ether fell below $ 3,000.

According to the industry portal Coinmarketcap, the total market for all cryptocurrencies is now back below the two trillion dollar mark.

Most recently it was $ 1.86 trillion.

Oil prices hardly changed

Oil prices stabilized somewhat on Tuesday at an elevated level.

A barrel (159 liters) of North Sea Brent cost US $ 81.18 that morning.

That was 0.3 percent more than on Monday.

The price of a barrel of the American West Texas Intermediate (WTI) also rose slightly.

According to traders, recent supply concerns have now subsided.

These had driven oil prices significantly in the past week.

Now, however, after maintenance work has been completed, Libya is now producing more oil again, and Kazakhstan has also increased its production again.

With news agencies