At the start of trading this Friday, the DAX – following the lead from the US, as expected – made a jump upwards. With around 16,970 points, the German leading index is only just below the all-time high of a little over 17,000 points (as of February 2, 2024, around 9:15 am).

Whether the DAX will attempt another attack today and reach a new all-time high before the weekend remains to be seen. The strong business figures from the US and Germany in any case give the index a boost – and the disappointment over the postponed interest rate hike seems to have already dissipated.

Good prospects for the DAX During a reporting season, the numbers of the big tech giants are especially important for the markets – which is currently proving true once again. Yesterday, two giants – Amazon and Meta – presented very convincing reports, giving the DAX a good start this morning. The fresh numbers from Apple also pleased investors.

Also helpful: In yesterday’s trading, the Dow Jones was able to reach a new all-time high and close above 38,500 points for the first time. The DAX is also supported by positive business figures from domestic companies. Most recently, Mercedes Benz and E.ON have exceeded expectations.

No interest rate hike yet – no problem Mid-week, the US Federal Reserve caused disappointment in the markets. The battle against inflation is not over yet and the interest rate remains in a range between 5.25 and 5.50 percent. Fed Chair Jerome Powell emphasized that they are not yet ready for interest rate cuts. For many observers, this is a sign that an interest rate hike could still be months away.

As a result, the DAX fell by about 100 points, but a real setback looks different. Apparently, a slight delay in the interest rate hike has already been priced in by the markets, although monetary policy is likely to remain the decisive factor for the stock markets. It was also seen as positive that further interest rate hikes are no longer an issue.

DAX once again close to record high A new attack on the all-time high could be successful, after the DAX had already failed several times this week at the 17,000 point hurdle. However, for medium-term and long-term oriented investors, it is not important when the German leading index sets a new record high and climbs above 17,000 points sustainably. Because: It is highly likely that it will happen.