Düsseldorf The German stock market struggled with the 13,000 point mark at the beginning of the week: on Monday evening, the Dax gave up its opening gains and closed at 13,193 points. On Tuesday, the leading German index on over-the-counter trading platforms was practically unchanged at 13,183 points before the start of trading. The Frankfurt benchmark apparently cannot benefit from the significant price gains on the US stock exchanges on Monday.
The focus of investors on Tuesday is likely to be mainly on economic data: The ZEW in Mannheim publishes its economic forecast, the Federal Statistical Office gives an overview of where the German economy is currently. In the UK, the latest job markets are announced.
In Cupertino, California Apple in the evening his innovations – but without an audience on site and without a new iPhone. Due to the corona crisis, there were delays, so the new model is not expected until October.
1 – Trade in the United States
The hope of a coronavirus vaccine later this year and several billion dollar mergers have created a buying mood on the US stock exchanges. The Dow Jones index of standard values closed on Monday 1.2 percent higher to 27,993 points. The technology-heavy Nasdaq advanced 1.9 percent to 11,056 points. The broad S&P 500 gained 1.3 percent to 3383 points.
News from vaccine developers provided a boost: On the one hand, took Astra-Zeneca after an interruption the examination of his candidate again, on the other hand widened Pfizer and the Mainz partner Biontech their study on approximately 44,000 subjects. “Markets are becoming increasingly confident that we are moving towards a safe and effective vaccine, possibly by the end of 2020, but otherwise by the beginning of 2021,” said Quincy Krosby, chief strategist at Prudential Financial. Pfizer’s shares rose 2.6 percent and Biontech’s 3.6 percent. In Frankfurt they were a good eight percent more likely to go out of business.
2 – trade in Asia
Asian investors were mostly put in a buying mood on Tuesday by the positive economic data from China. The Shanghai stock exchange was 0.1 percent up. The Shanghai and Shenzen Major Companies Index gained 0.4 percent, backed by official data showing that China’s industrial production rose 5.6 percent in August year-over-year, expanding for the fifth straight month.
Retail sales in China also expanded for the first time this year in August. Compared to the previous year, they increased by 0.5 percent, according to official statistics published on Tuesday. Analysts had expected zero growth after a decline in July of 1.1 percent.
The data signals that the world’s second largest economy is continuing to recover from the corona crisis, although tensions between China and the United States are mounting and the global demand outlook remains risky.
3 – Economic data from ZEW and the Federal Statistical Office
The ZEW in Mannheim publishes its economic expectations this Tuesday. In August, the ZEW indicator rose significantly from 12.2 points to 71.5 points, after a slight decline in July. Around 300 financial experts took part in the survey on the leading indicator for the economic situation in Germany.
When asked where the German economy stands, the Federal Statistical Office will also provide an answer on Tuesday morning. A good two weeks before the end of the third quarter, the Wiesbaden statisticians are once again presenting an overview of the economic data for July and August that have already been published.
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4 – Apple introduces innovations
The US technology group presented new products on Tuesday evening German time. This time, however – as is customary at this time – new iPhone models are not to be expected. The next generation of Apple phones is not expected until October after delays caused by the corona crisis.
At the visitorless event in Apple Park in Cupertino, California, which will be broadcast on the web, new models of the Apple Watch computer watch will be presented instead. In addition to a new model with additional functions, experts also expect an entry-level model, with which Apple primarily wants to compete against cheaper fitness bands. Industry observers are also expecting a refreshed model of the iPad Air tablet computer. A smaller version of the HomePod speaker and new headphone models are also under discussion.
The iPhone should be equipped for the first time this year for the super-fast 5G data transmission, after Apple the dispute with the modem specialist Qualcomm had settled. In addition, before the end of this year, Apple will launch a first model of Mac computers with processors developed in-house instead of the ones previously used IntelChips expected.
5 – New corporate figures from Adobe
With Adobe, today, Tuesday, the major US technology companies are presenting new quarterly figures that will be published after the market closes. These numbers are relevant because tech stocks across the Atlantic are the focus of investors worldwide. After the rapid price increases throughout the year, the tech values have clearly declined since the beginning of September.
Yesterday, Monday, the US bank Morgan Stanley raised its target price for the shares of the Photoshop manufacturer from 450 to 560 dollars. The cloud segment in particular is likely to grow significantly despite the pandemic crisis.
The Adobe share price has risen by around 50 percent this year and has weathered the significant correction in US tech stocks. Since the record high in early September of around $ 536, the stock has fallen less than ten percent.
5 – UK releases labor market data
This Tuesday, the UK publishes August unemployment figures. The official unemployment rate has been relatively constant at 3.9 percent for months. According to experts, this is due to government aid programs, which among other things mean that many Britons are currently on forced leave. Experts are already warning of a drastic increase when the programs expire in October.
Dates company on September 15th
- 07:00 a.m., Germany: Fraport, Traffic figures airport 37th calendar week
- 8:00 a.m., Sweden: Hennes & Mauritz (H&M) Q3 sales
- 7:00 p.m., USA: Apple introduces new products
- 10:00 am, Germany: Schaeffler, Extraordinary General Meeting to create Authorized Capital
- 10:00 p.m., USA: Adobe, Q3 numbers
Dates economy on September 15th
- 8:00 a.m., UK: Unemployment figures 08/20
- 8:45 a.m., France: consumer prices 08/20 (final)
- 11:00 a.m., euro zone: labor costs Q2 / 20
- 11:00 a.m., Germany: ZEW economic expectations 09/20
- 2:30 p.m., USA: Empire State Index 09/20
- 2:30 p.m., USA: import and export prices 08/20
- 3:15 p.m., USA: industrial production 08/20
- 3:15 p.m., USA: Capacity utilization 08/20
- 10:30 p.m., USA: API Oil Report (Week)
With agency material.