2023-09-29 20:00:17
Frankfurt/Main.
Concerns about interest rates being likely to remain high for a longer period of time and their impact on the economy are currently hanging as dark clouds over the stock markets. Experts see little reason for this to change quickly.
What could be decisive over the weekend is whether the US federal authorities come to a standstill or not. In the new week there will be important economic data such as the US labor market report, which is seen as a yardstick for the Fed’s further action.
The Dax does justice to what is considered a weak month of September. Before the weekend, the leading German index was able to recover somewhat from its fall to its lowest level since the end of March. On Friday it closed with a plus of 0.41 percent at 15,386.58 points. Over the week, however, the stock market barometer was down around one percent.
New highs on the stock markets, as seen in the summer, currently seem to be an illusion in the darkening economic scenario: In Germany, for example, the Ifo business climate had recently deteriorated further for the fifth month in a row and the euro zone is expected to enter a recession .
On the other hand, fantasies of interest rate cuts could be fueled again in the new week, as weak economic data is expected. The potentially price-moving publications include purchasing managers’ indices on Monday and Wednesday as well as the US labor market report due on Friday.
In order for the US economic data to be published as planned in the new week, a shutdown in the USA should be avoided. If there is no solution, the statistics agency would have to close and the much-noticed work report would probably have to be postponed.
In order to prevent a shutdown of government business, Republicans and Democrats in Congress would have to agree on a solution before Sunday, because the term of the budget approved by the US Congress at the end of last year ends that night.
On the German companies side, there are currently few dates foreseeable, which are primarily concentrated on Thursday: the packaging manufacturer Gerresheimer will present quarterly figures, the leasing specialist Grenke will then provide figures on new business and the IT service provider GFT is inviting people to the Capital Markets Day. (dpa)
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