Sunday, November 28

DAX expected lower: How serious is the Apple disappointment?

Market report

As of: 10/29/2021 7:40 a.m.

Apple and Amazon have caused bitter disappointments with their quarterly results. Investors are reacting with cold, the DAX is likely to start in the red.

The 40 German standard values ​​should start at a discount in the last trading day of the week. Banks and brokers are currently appraising the DAX 0.5 percent lower at 15,622 points.

The German benchmark index should once again target the gap at 15,650 / 15,619 points, which it had almost closed yesterday at a low of 15,629 points.

A complete closing of this price gap and thus a slide below yesterday’s low for the day would exacerbate the downward momentum, the sellers (bears) would smell the morning breeze again.

At the end of the week, in addition to the usual brew of inflation and interest rate fears, the negative quarterly balance sheets from Amazon and Apple also put pressure on prices. The two tech giants opened their books yesterday after the US stock market closed.

The global delivery bottlenecks have ruined Apple’s business in the last quarter of the year. The situation will worsen again in the Christmas business, said company boss Tim Cook Reuters. This outlook frightened investors, Apple shares lost five percent after the hours.

The Amazon share also sagged after the hours. Delivery problems and a lack of workers are likely to spoil the otherwise lucrative Christmas business for the world’s largest online retailer. At best, Amazon expects an operating profit of three billion dollars, compared to 6.9 billion dollars in the same period last year.

The price losses at Apple and Amazon are likely to have a strong impact on the US indices today, after all, both companies are extremely heavily weighted not only in the technology-heavy Nasdaq 100, but also in the “market-wide” S&P 500.

In regular Wall Street trading, the major US indices were still able to make profits yesterday. The technology stocks in particular were strong: the Nasdaq 100 marked a fresh all-time high in the course of trading and closed with a premium of 1.4 percent at 15,448 points.

The tech values ​​showed relative strength compared to the Dow Jones index. The US standard values ​​closed 0.7 percent higher at 35,730 points. The broad S&P 500 gained 1 percent to 4596 jobs.

The tech balance sheets have caused disillusionment on the Asian stock exchanges. The Nikkei Index, which comprises 225 stocks, is listed shortly before close of trading in Tokyo. The Hang Seng in Hong Kong is currently 0.5 percent in the red.

“The background noise hasn’t changed in the last few weeks, people are still concerned about stagflation, slowing growth numbers and rising inflation, but that’s more priced into the bond market than the stock market right now,” said Kerry Craig , global market strategist at JPMorgan Asset Management.

Meanwhile, positive news for the markets comes from the ailing real estate company Evergrande. The Chinese company has apparently made another payment due. As the “New York Times” reports, Evergrande paid the interest due today and thus averted another default.

This is a coupon payment of $ 47.5 million that was actually due on September 29 for a bond. The grace period would have expired today, Friday. Evergrande had just been able to avert a payment default the week before.

The price of the troy ounce of gold fell 0.3 percent in the morning to $ 1,793. The yellow precious metal is moving a little further away from the psychologically significant $ 1,800 mark. The euro is 0.1 percent to 1.1667 dollars.

The DAX group Daimler increased its profit in the third quarter despite the slump in sales due to the chip crisis. The net profit attributable to the shareholders rose by 21 percent to 2.47 billion euros. At 40.1 billion euros, sales were on a par with the previous year. “We are staying on course to achieve our goals for the year as a whole,” said CFO Harald Wilhelm.

The Facebook group wants to rename and in future called “Meta”. It’s about writing the next chapter, said company founder Mark Zuckerberg. The social media group is under pressure: regulators and politicians worldwide want to curb its market power and put a stop to misinformation and hate speech.

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