Market report: Will the DAX reach 19,000 today?

The DAX is likely to attack the 19,000 point mark again at the start of trading. It is uncertain whether the momentum will be enough for another record. After the recent price gains, a buying pause could be on the cards.

Before the start of XETRA, the broker IG estimated the DAX to be 0.5 percent higher at 19,010 points. The German leading index had recently risen to 19,029 points on Tuesday, bringing it close to last Thursday’s record of 19,044 points. Yesterday, the DAX closed 0.4 percent lower at 18,918 points.

After the index has gained around 14 percent since the beginning of the year, investors are currently looking for stimulus and are hoping for further monetary easing by the new central banks. In September, which is actually a seasonally weaker month for the stock market, the DAX has so far remained stable.

“Against the backdrop of the easing measures of the major central banks worldwide, temporary setbacks are likely to continue to prove to be entry opportunities at least until the end of the year,” commented the market observers at Index Radar. “In the short term, we expect weaker prices as the momentum of the upward movement in the US is waning and the markets are overbought,” is their assessment.

Investors are now turning their attention to a series of speeches by Federal Reserve policymakers throughout the day, including comments from Fed Chairman Jerome Powell, which could provide further clues about the interest rate outlook in the US.

The tailwind for the US stock markets from the economic aid for China is fading again. The Dow Jones closed yesterday 0.7 percent lower at 41,914 points. The technology-heavy Nasdaq was barely changed at 18,082 points. The broad-based S&P 500 lost 0.2 percent to 5,722 points.

The S&P 500 and Nasdaq have risen about 20 percent so far this year on interest rate cut expectations and optimism about artificial intelligence. “The market has skyrocketed quite a bit and we may be reaching valuation levels where people are starting to feel uncomfortable,” said investment expert Scott Welch of Certuity.

Asian stocks are continuing their upward trend today, contrary to the global trend. In Tokyo, the Nikkei index, which includes 225 stocks, rose 2.5 percent to 38,812 points, while the broader Topix was 2.0 percent higher at 2,702 points. The Shanghai stock exchange gained 0.8 percent to 2,919 points. The index of the most important companies in Shanghai and Shenzhen rose 0.8 percent to 3,429 points.

The driving force in Asia remains the hope for positive effects of the massive Chinese economic stimulus package, even though there are initial signs that the euphoria is waning.

The fund company Union Investment is demanding that Commerzbank be willing to engage in dialogue with the Italian UniCredit. “Cooperation with UniCredit – in whatever form – must not be to the detriment of Commerzbank,” wrote fund manager Alexandra Annecke. “We therefore expect a willingness to engage in open-ended dialogue.” Union Investment acts as a fund provider for the Volksbanken and Raiffeisenbanken in Germany and holds around 1.5 percent of the shares in Commerzbank.

With this statement, the fund company deviates from the opinion of politicians and employee representatives. The Verdi union and the Commerzbank works council reject a merger with the Milan-based bank, and the German government has also expressly spoken out against it. The Commerzbank management is critical of a possible takeover.

The supervisory board of the energy technology group Siemens Energy extended the contract with company boss Christian Bruch for another five years until April 2030. The original term of the contract ended in April 2025. Joe Kaeser, Chairman of the Supervisory Board of Siemens Energy, said that Bruch had led the group through turbulent times in his first term in office. He had stopped the existential decline of the wind business. The planned return of the wind business to profitability from 2026 will complete one of the largest restructuring projects in Siemens’ history.

The debut of “Assassin’s Creed Shadows” was held back. The spin-off of the classic video game was released three months late in February 2025, announced developer Ubisoft. The French company also lowered its revenue targets. For the 2024/2025 financial year, the company now expects net bookings to reach 1.95 billion euros. Chief Financial Officer Frederick Duguet therefore announced that the austerity measures would be tightened. In addition, the number of employees will be continuously reduced.