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The Wednesday Market Movers: A Recap of the Day’s Top Performers
Today, Commerzbank saw a 5.13% rally as the markets reacted to a profit surge, while Deutsche Bank advanced by 0.16%. Merck also ended the session up 4.77% thanks to better-than-expected earnings results. However, the German auto sector faced some struggles, with Daimler Truck Holding, BMW, Porsche, Volkswagen, and Mercedes Benz Group all seeing declines.
The ECB and Corporate Earnings: What Investors Need to Know
Tomorrow, the ECB Financial Stability Review will be in focus, with attention on financial conditions and geopolitical risks. While the report may not impact the ECB rate path, rising bets on a September Fed rate cut could influence ECB doves into action. Keep an eye on ECB commentary and corporate earnings from big names like Siemens AG and Deutsche Telekom AG.
US Economic Calendar: Key Data to Watch
US labor market data will be a focus on Thursday, with initial jobless claims expected to fall. FOMC member speeches could also impact market sentiment, especially in light of support for a September Fed rate cut. Keep an eye on the Philly Fed Manufacturing Index, industrial production numbers, and housing sector data as well.
Near-Term Outlook: What’s on the Horizon for the DAX
The near-term trends for the DAX will be influenced by central bank commentary and corporate earnings. Support for multiple ECB rate cuts and a September Fed rate cut could push the DAX to a new all-time high. Pay attention to futures markets and technical indicators for a better understanding of where the market may be heading.
DAX Technical Indicators: Analyzing the Charts
The DAX remains above key EMAs, signaling bullish price movements. A break above the all-time high could indicate further gains, while a fall below a certain level could see bearish pressure. Keep an eye on the RSI for overbought signals and potential selling pressure.
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