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Lower on the day but still a record monthly close for the DAX -futures higher this morning (corrected)
As just mentioned in the previous update, the DAX was unable to post a higher daily close yesterday. The index fell back by 148 points, closing out the month at 19,324. Nevertheless that was still a record monthly close for the DAX, albeit down from the all time high it set last week, at 19,491. The DAX futures are higher this morning, but that is by no means conclusive at this early stage. The index remains attractive to valuation based investors and prospect of ECB monetary easing, but at the same time the German economy is on its knees and the fundamental reasons to buy this one are simply not there, if one looks beyond relative value. In that respect this analyst simply cannot get excited with the index at the current levels, rightly or wrongly. That does not preclude the prospect of it moving even higher though. The DAX is currently priced to reopen around 19,405
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DAX sets new record above 19,500 at the second time of asking
Since a much earlier update here noted the DAX just failing to set a new all time high above 19,491, the index fell back to below 19,400. However...
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S+P 500 rises to new record above 5,850
The gains in the Nasdaq 100 right from the opening has now seen that index push towards 20,500 and that in turn has helped to lift the S+P 500 to a...
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US stock markets reopen with early rotation out of the Dow Jones and into the Nasdaq 100
The US stock markets have just reopened and the immediate moves have seen the Dow Jones drop a little further into the red whilst the Nasdaq 100 moves...
