Broker IG estimated the DAX 0.2 percent higher at 25,095 points before the Xetra opening. On the previous day, the index closed at 25,040 points, also up 0.2 percent. For days, the DAX has been moving in a range between 24,550 and 25,200 points without a clear trend.
Analyst Martin Utschneider from broker Robomarkets sees the market in a phase where positive impulses provide short-term support but are not yet sufficient for a new trend movement. US stock markets declined on Tuesday: the Dow Jones closed unchanged at 52,305 points, the S&P 500 lost 0.2 percent to 7,485 points, and the Nasdaq fell 0.7 percent to 26,044 points. US markets will remain closed on Friday due to Independence Day.
The focus is on the monthly US labor market report for June. Experts surveyed by Reuters expect a job increase of only 110,000, compared to 172,000 in May. If the labor market proves robust, the US Federal Reserve would have more leeway for tighter monetary policy. Fed Chair Kevin Warsh recently stated that despite demands from US Donald Trump for rate cuts, the central bank will stick to its two percent inflation target.
Source: Tagesschau
