Concerns about an overvaluation of the hype surrounding artificial intelligence (AI) could continue to make investors on both sides of the Atlantic cautious. In addition, the disappointment over the lack of clear signals from Jerome Powell in the previous week to cut interest rates is likely to resonate.
It is also important to keep an eye on possible stimuli from the reporting season.
DAX
Interest rate cut hopes in the United States are muted - disappointment still resonates
Subdued interest rate cut fantasies in the US have come at the expense of general risk appetite in recent days. Although the US Federal Reserve lowered interest rates by a total of 25 basis points a week ago, as expected, it failed to make a clear commitment to a further cut at its December meeting.
According to the CME Group's „Fed Watch Tool“, the chance of an interest rate cut of a quarter of a percentage point is currently still 72.1%. The interest rate band itself is currently quoted at 3.75 to 4.00 percent.
ADP employment data could provide first appetizer for US jobs data
Investors are likely to expect important clues about the US job market today. The so-called ADP employment data is expected at 14:15.
Attention should also be paid to the ISM Purchasing Managers' Index for the services sector (16:00).
Numerous Fed representatives in focus on Thursday - Economists expect job growth for US labor market
Several central bank representatives of the Federal Reserve (Fed) are expected on Thursday. In addition to John Williams (New York) and Michael Barr (17:00), Beth Hammack (Cleveland), Alberto Musalem (St. Louis) and Christopher Waller will appear before the public.
The preliminary consumer sentiment from the University of Michigan should not be forgotten at 16:00.
Focus on the reporting season - numerous DAX companies present figures
In the reporting season, the figures for the past financial quarter from Siemens Healthineers (DE000SHL1006), BMW (ISIN: DE0005190003) and Fresenius (ISIN: DE0005785604) should be noted today. The figures for Deutsche Post (ISIN: DE0005552004), Continental (ISIN: DE0005439004) and Daimler Truck (ISIN: DE000DTR0CK8) are expected on Thursday.
