As of: March 8, 2024, 6:07 p.m
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The Dax is the most important stock index in Germany.
© Fredrik von Erichsen/dpa
The eagerly awaited US labor market report did not bring any new momentum to the Dax on Friday.
According to the job data, the German leading index, which had been weakening since the morning, only managed to break even slightly and ultimately fell 0.16 percent lower at 17,814.51 points into the weekend.
After the Dax record was reached the day before, investors apparently did not dare to venture any further.
Frankfurt/Main - On a weekly basis, the Dax has gained around 0.5 percent.
The MDax of medium-sized stocks closed 0.70 percent in the red at 25,983.68 points.
Portfolio manager Thomas Altmann from QC Partners viewed the job data from the USA as positive for the financial markets: “The labor market report contains nothing that could postpone the Fed's first interest rate cut any further.
And that's the only thing the stock markets are talking about at the moment.” The US Federal Reserve can certainly live well, especially with the low wage growth in February.
The increase in hourly wages has so far been a thorn in the side of US monetary authorities.
Despite little movement in the Dax, the trading week ends with increasing hopes that interest rates will soon fall.
Investors recently saw the first interest rate cuts in June from the appearances of US Federal Reserve Chairman Jerome Powell and the European Central Bank (ECB).
This is what the market had previously expected.
This reignited the record hunt in the Dax on Thursday and drove the leading index to a high of 17,879 points.
dpa