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As experts in the stock market and trading, we provide valuable insights into the latest developments on Wall Street and beyond. Today, we are focusing on key events that could impact the global economy and equity markets.
German Business Sentiment in Focus
On Friday, October 25, all eyes are on the German Ifo Business Climate figures. Economists are predicting an increase in the Ifo Business Climate Index from 85.4 in September to 85.6 in October. A positive outcome could indicate a potential pickup in business activity, but concerns about global trade tensions may limit any positive impact on the DAX.
US Labor Market and Services PMI Signal Robust US Economy
This week, US jobless claims and service sector PMI data have supported expectations for a strong US economy. With a decrease in initial jobless claims and an uptick in service sector PMI, market sentiment is optimistic. However, softer service sector inflation has raised expectations for a December Fed rate cut.
US Equity Market Overview
US equity markets experienced a mixed Thursday session, with the Nasdaq and S&P 500 seeing gains while the Dow declined. Tesla’s impressive performance led the Nasdaq higher, and 10-year US Treasury yields offered modest support to riskier assets. Market participants are closely monitoring corporate earnings and central bank actions.
US Consumer Sentiment in Focus
As we look ahead to Friday’s US session, finalized Michigan Consumer Sentiment figures will be closely watched for indications of consumer confidence. Any revisions to the preliminary report could impact the Fed rate path and influence market dynamics. Rising inflation expectations may also impact consumer spending and Fed rate decisions.
Near-Term Outlook
Looking to the near future, market trends will be influenced by corporate earnings, central bank commentary, and economic indicators. The outlook for December ECB and Fed rate cuts will also play a significant role in market sentiment. Stay informed with our latest news and analysis to navigate risks effectively.
DAX Technical Indicators
Daily Chart
The DAX is currently above the 50-day and 200-day EMAs, signaling bullish price trends. Resistance levels at 19,500 and 19,675 are key targets for bullish momentum, while support levels at 19,350 and 19,000 may come into play if there is a downturn. Consider sentiment data and key technical indicators for informed decision-making.
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