US interest rate decision boosts the Dax – private investors hope for higher prices, professionals secures

Dusseldorf The German stock market starts friendly in the trading day. In the morning trade, the Dax listed 0.1 percent plus and is traded at 12,923 points. The daily high was 12,951 points.

The US Federal Reserve delivered yesterday: it cut the key rate again, but now signals a break, However, after the US and China have come closer and a hard Brexit is less likely, according to Fed chief Jerome Powell moves now some in a "positive direction". "In short, the Fed is now sounding neutral and there is a break first, this year comes nothing more," say the foreign exchange analysts of the Commerzbank.

After the interest rate decision, the euro appreciated significantly against the dollar and continued this trend on Thursday. Currently, the European common currency is trading at $ 1,1175.

The reason: Powell clarified that the Fed is not thinking of raising interest rates. "The Fed remains cautious, interest rate cuts are still more likely than interest rate hikes, which is why dollar strength is inappropriate," say the Commerzbank analysts. "Should US data also disappoint in the coming weeks, expectations that the Fed will continue to decline will increase and the dollar will come under pressure accordingly."

At first glance The German leading index seems ripe for a correction: In the top more than nine percent plus since October 4, added the new high for the year with 12,986 points from last Monday. "It almost seems as if some of the interviewees currently have the impression that the Dax has risen too fast in too short a time," says Joachim Goldberg after evaluating the Frankfurt Stock Exchange survey on investor sentiment.

The survey also shows: Private investors are hoping for "more", while the institutional counterparts seem more likely to hedge of the already achieved considerable profits. "Of course, in the hope, in the case of significant resetting the Dax once more able to get in better," says the behavioral economist. The question, of course, is: what happens if the Frankfurt benchmark consolidates at this high level, currently at 12,800 / 12,900 points? Will the investor professionals get back in fast and fire up the rally?

Overall, the situation for the German benchmark index has improved, as demand for the new pessimists is expected to be greater with larger resets, possibly between 12,550 and 12,600.

Another reason for today's plus sign: After the market close on Wall Street, Apple has presented its results for the fourth fiscal quarter. The tech company announced good news for investors: The company makes more sales. At $ 64 billion, it grew two percent year-on-year. This Apple could exceed the expectations of analysts. The paper is up 2.4 percent on the German stock market.

In addition to the new wave of balance sheet figures, the release of US consumer spending in the afternoon (CET) is likely to be important on the economic side. The buying mood of consumers is considered the mainstay of the world's largest economy. In addition, German retail sales and European inflation data are on the agenda.

Look at the individual values

Delivery Hero: The rapid growth makes the board of the food delivery service for sales development again more confident. But the cost of expansion pushes the company more negative. The investors do not care, the stock rises first by 2.7 percent until profit minting insert and reduce the plus to 0.3 percent. In terms of adjusted operating earnings (Ebitda), the Executive Board expects to reach the upper end of minus 370 to minus 420 million euros. As a reason he called additional investments.

Zalando: Largest loss in the MDax is the stock of the online retailer with a minus of around seven percent. Currently, the loss of value is around four percent. More and more customers are visiting the Zalando sites and helping to increase sales significantly. Sales climbed 26.7 percent to 1.5 billion euros. Operating income (adjusted EBIT) increased to € 6.3 million. However, bottom line Zalando posted a loss of 13.6 million euros after a loss of 41.7 million euros a year before.

Rational: The kitchen equipment supplier sees himself on course. After revenue and earnings growth in the first nine months, the Executive Board confirmed its annual targets. This is reflected in stock prices. The paper rises by six percent.

Fiat / Chrysler and PSA: The two car companies have publicly presented their merger plan. The Opel mother and Fiat Chrysler want to shape the fourth largest carmaker in the world. On the stock exchange this plan comes differently: The PSA share loses at the opening about ten percent, currently the minus 8.8 percent, the loss is higher than the profit of the title in the past two days due to the merger rumors. The Fiat Chrysler paper, however, rises another nine percent.

Deutsche Bank: Already yesterday, the stock lost almost eight percent and was by far the largest Dax loser. And that went on today for the opening on. Minus 2.4 percent said it at the trade opening for the course of the bank title, which led the losers list again. Meanwhile, the minus has shrunk to 0.7 percent. The market capitalization is only 14.8 billion euros. Rank 24 out of a total of 30 Dax values.

Nemetschek: At the beginning, the shares went up by more than eight percent. The software company recorded strong growth in the summer quarter and expects full-year sales and profit margins to reach the upper end of the forecast range

What the charting says

The Dax continues to target the 13,000 mark mark. On Monday this week, the leading index narrowly missed the target. With 12,986 points, the Frankfurt benchmark was able to mark a new high for the year.

Investors should plan further price losses in the near term should the index fall below 12,800 points. On yesterday's trading day was at 12,830 meters, previous low since the new high for the year, again high demand to see the market. Strategic investors should stop their exposures on the basis of the old outbreak brands at just under 12,500 points. According to charting technology, this area is now considered an important area of ​​resistance.

As long as the German defaults consolidate at this high level and defend the range of 12,500 points, the index should surpass the 13,000 point mark this year.

An important support below 12,500 points is the 200-day line, a gauge of the long-term uptrend, which is currently trading at 11,965 points and rising by around ten points per day. It would not be uncommon for the Dax to fall close to this line during a major correction that is likely to be due to significant gains in the coming days or weeks.

Analyst Check: Jeffries recommends buying the Eon Akie

The analyst firm Jefferies upgraded Eon from hold to buy and raised the price target from 7.80 to 10.00 euros. He does not see credit rating BBB at risk, as the utility should be able to cut its financing costs and capitalize on more synergies, said analyst Ahmed Farman in a study on Thursday. The valuation discount of the share to the sector is not justified.

Click here for the Handelsblatt analyst check

"When planning your wealth: Never get off!"

Here it goes to the side with the Dax-course, here are the current tops & flops in the Dax. Current short selling by investors can be found in our database on short selling.

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