DAX Drops Almost 1% Before Important U.S. Economic Data

Dax Futures

Dax Futures are significantly lower on Thursday, influenced by apprehensions regarding the trajectory of Fed interest rates and a prudent approach ahead of crucial economic indicators from the U.S., such as the GDP and inflation reports. The benchmark DAX experienced a decline of 205.40 points, reflecting a decrease of 0.87%, settling at 23,476.30 recently.

Adidas, Merck, Brenntag, GEA Group, Siemens, Qiagen, MTU Aero Engines, and Fresenius Medical Care have experienced declines ranging from 1.2% to 2.5%. Rheinmetall and Deutsche Bank have experienced a decline of nearly 1% compared to their previous closing levels. RWE, Deutsche Post, E.ON, Beiersdorf, Mercedes-Benz, and Deutsche Bank are experiencing moderate increases in their valuations. Where as

  • Siemens Healthineers has experienced a decline exceeding 4.5%.
  • Siemens Energy has experienced a decline of approximately 3.5%.
  • Heidelberg Materials has seen a decrease of around 3%.
  • Commerzbank is experiencing an increase of nearly 2.5%.
  • Continental has increased by 1.7%, Hannover Rueck has risen by 1.3%.
  • Porsche Automobil Holding has seen a gain of 1.2%, and BMW has advanced by 1.1%.

In October, German consumer confidence is poised for a modest improvement, interrupting its recent decline, as expectations regarding income have shown signs of strengthening, according to a closely monitored survey data. The forward-looking consumer confidence index increased to -22.3 in October, up from a revised -23.5 in the preceding month. The reading was recorded at -23.3.

Data indicated that new car registrations in Europe experienced an annual increase of 5.3% in August, following a 7.4% rise in July. This marks the second consecutive month of expansion. Nonetheless, car registrations in the EU experienced a slight decline of 0.1% in the year-to-date period.