Dax Sees Downturn Amid German Manufacturing Struggles and Us Economic Indicators

  • Investing.com
  • Stock Market News
Dax Sees Downturn Amid German Manufacturing Struggles and Us Economic Indicators

The DAX , Germany's benchmark stock index, experienced a downturn on Tuesday, dropping by 0.91% to end at 15,247 points. This reversal of fortune came after a previous gain, with significant losses also recorded by Deutsche Bank (ETR: DBKGn ) and Commerzbank (ETR: CBKG ).

The German Manufacturing Sector continues to face challenges, evidenced by a marginal increase in the Purchasing Managers Index (PMI) from 39.1 to 39.6. This sluggish performance has raised concerns about a potential Eurozone recession.

In contrast, the US ISM Manufacturing PMI exceeded expectations, bolstering a hawkish interest rate trajectory for the Federal Reserve. This development has brought the European Central Bank's (ECB) inflation and monetary policy into focus.

The upcoming US JOLTS Job Openings Report is anticipated to influence investor risk appetite. Meanwhile, technical indicators for the DAX point towards bearish price signals as the index remains below both the 50-day and 200-day Exponential Moving Averages (EMAs).

On the other side of the Atlantic, US equity markets kicked off Q4 with mixed results. The NASDAQ and S&P 500 indices saw gains while the Dow registered a decline.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles