DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 13.06.2017
Yesterday sales of technology companies weakened, and the NASDAQ Composite index gained 0.73%. IT optimism moved to other indices and Dow Jones Industrial has set a new historic record of 21328.47 points. Technological companies’ debut on Friday led to some confusion in stock markets. So far, IT companies have been the leaders of growth driven by the boom on Wall Street. Technological sector since the beginning of 2017 was the strongest on the US stock market. At that time, he gained over 20 percent. And was responsible for nearly 40 percent. The capitalization of FAAMG companies (Facebook, Amazon, Apple, Microsoft, Alphabet) has increased by $600 billion. However, it remains an open question whether this was an adjustment, or whether the end of the bull market in the US.
Investors are waiting for the FOMC meeting, whose results will be announced on Wednesday. The market is pricing for 100% another rate hike in the US. In such a situation, the focus will be on new macroeconomic projections and a dot-plot graph showing future movements in interest rates in the United States. Investors may also be sensitive to possible signals of a reduction in the balance sheet total.
On Tuesday Nikkei index slightly lost 0.05%. The DAX index edged up 0.59%, the S & P 500 ended the day with 0.45%. The German index once again reached a level near 12800 points. Breaking this area will move you towards historical levels near 12878 points. In turn, the nearest supports are around 12700 points and 12600 points.
After opening the futures market, the index rebounded from a round of 12800 points. Breaking the pivot point around 12765 points it will open the way to S1 near 12725 points. In turn, output over 12800 points will move towards historical levels of 12878 points.
20:00 – Federal Funds Rate
20:30 – FOMC Press Conference