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If you are looking for the latest market movers and insights into the stock market, you have come to the right place. Today, we are diving into the Thursday market movements and what to watch out for in the near future.
The Thursday Market Movers
Auto stocks had a mixed session on Thursday. While Porsche and BMW saw gains, Volkswagen tumbled. Retail-related stocks also saw gains, driven by improving sentiment toward the euro area economy.
German Retail Sales and Eurozone Inflation in Focus
Investors are closely watching German retail sales and Eurozone inflation numbers. A larger-than-expected fall in retail sales could signal a damper inflation outlook, impacting post-June ECB rate cuts and buyer appetite for DAX-listed stocks.
Economists forecast German retail sales to fall in April, while inflation is expected to rise in the Eurozone.
US Core PCE Price Index in the Spotlight
Later in the session, the US Core PCE Price Index will be in the spotlight. Hotter-than-expected inflation numbers and personal income/spending trends could impact investor bets on a September Fed rate cut.
Economists forecast the US Core PCE Price Index to increase year-on-year in April, along with personal income and spending.
Near-Term Outlook
The near-term trends for the DAX will be influenced by Eurozone and US inflation numbers. As the market reacts to these figures, buyer demand for DAX-listed stocks could shift.
On the Futures markets, keep an eye on the DAX and Nasdaq mini for any movements.
DAX Technical Indicators
Daily Chart
The DAX remains above the 50-day and 200-day EMAs, signaling bullish price movements. A breakout from current levels could suggest further upward momentum.
However, if the DAX breaks below key levels, it could indicate a shift in market sentiment. Technical indicators like the RSI can provide insights into potential price movements.
Stay tuned to Extreme Investor Network for more updates and analysis on the stock market and trading strategies. Happy investing!