Investors on both sides of the Atlantic have also been accompanied by interest rate concerns and increasingly critical questions regarding AI valuations in recent trading days. Geopolitical risks are currently taking a bit of a backseat, while monetary policy uncertainties are once again driving the direction. While the interest rate outlook raises new questions, the AI euphoria is increasingly being put to the test. The stocks of newcomer SpaceX also caused a stir.
DAX
ifo Index as high as expected – peace signals in the Iran war brighten mood
The ifo Business Climate Index was 85.6 points, as expected, after 85 points in June. Following the recent peace signals in the Iran war, the mood in the boardrooms of German companies has thus improved for the second consecutive time.
GfK Consumer Confidence Higher Than in June – US Price Data as Expected
Published on Thursday was also the GfK consumer confidence, which came in weaker than expected at minus 29.2 points (-27.6 points), but slightly higher than in June. The background for this development is likely the recent framework agreement between the US and Iran, which has somewhat eased inflation concerns.
The core personal consumption expenditures rate in the US rose by 0.3 percent compared to the previous month, as expected, after also 0.3 percent in the comparable period. These US price data are considered, not least, the preferred inflation measure for the US Federal Reserve (Fed).
US economy grows faster than expected in the first quarter of the year
The US GDP growth rate likely also provided positive momentum. The US economy grew faster than expected in the first quarter of the year. The annualized rate was 2.1 percent, after a pace of 1.6 percent had been reported previously.
Economic data from the US and speeches by Fed representatives round off the trading week
From an economic calendar perspective, new data on consumer confidence and five-year inflation expectations from the University of Michigan are still expected this afternoon in the US (4:00 PM).
Speeches by Fed representatives like Williams (New York/4:30 PM) and Neel Kashkari (Minneapolis/5:30 PM) could provide monetary policy clues.
SpaceX falls back to initial listing
The shares of the aerospace company SpaceX (ISIN: US84615Q1031) also provided plenty of food for discussion. On Tuesday, the shares were temporarily trading at over $225. The recent profit-taking in technology stocks also affected the stock market newcomer in this context.
On June 12th, the company had achieved the largest IPO in history. The initial price was $150, more than 11 percent above the issue price of $135.
SpaceX
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