The DAX is likely to remain in the grip of the oil price for the time being. Walking a tightrope between inflation worries, monetary headwinds, and the uncertain outcome of the Trump-Xi summit, investors are trying to keep their balance. While stock markets struggle to find a footing, rising yields in the bond market are causing additional headwinds.
Even though the Middle East conflict may temporarily lose intensity, inflation concerns and monetary policy uncertainties are far from over. A better-than-expected Ifo Business Climate Index cannot turn the tide on the German stock market for the time being.
DAX
High tension ahead of meeting between Trump and Xi
Investors are eagerly awaiting the meeting between US President Donald Trump and Chinese leader Xi Jinping. There had already been an approach ahead of the meeting. According to US Treasury Secretary Scott Bessent, the additional tariffs on imports of Chinese goods, which had been suspended until November, are to be postponed for another two months, it was reported.
Among other things, topics concerning customs as well as Artificial Intelligence (AI) are to be discussed.
Oil Price (Crude Oil Futures)
The closely watched ifo Business Climate Index rose to 89.9 points in September, up from 88.8 units in August. This also marks the fifth consecutive increase and the highest level since 2023. Experts surveyed by Reuters had expected 89.0 points. The Munich-based ifo Institute surveys around 9,000 executives on a monthly basis.
Ahead of the publication, leading economic research institutes had also announced that they expect gross domestic product (GDP) to grow by 1.3 percent for the current year.
GfK consumer confidence and US durable goods orders in focus
On Friday morning, consumer confidence from GfK will be in focus (08:00 AM). Durable goods orders from the US are also likely to provide important momentum (02:30 PM).
