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02.09.2019 – Daily report. No impetus on the German stock exchange. No wonder: Wall Street remains closed on Monday because of Labor Day. In addition, new punitive tariffs from the USA and China have come into force. On the economic side, there are no particularly important dates on the horizon. The beginning of the week is therefore maucous and directionless.

Minimal profit in Frankfurt

At the beginning of the week, there was little demand for shares on the German stock exchange. Many stock market participants leaned back, checked their real-time prices only rarely and otherwise kept an eye on the regular market updates on the trading platform. In early trading, the DAX tripped by 0.1 percent to 11,948 points. And what about the state elections in the East? Not an issue. Apart from the fact, of course, that green-left dwarf parties are now coming to power, even though voters have given a right-wing conservative bourgeois bloc a clear majority for power. If politicians do not listen to their voters, who demand a stronger economic policy focus with the promotion of domestic industries, but not ecological world rescue experiments, then this can also take its toll on the stock market.

New punitive tariffs

The main topic, of course, remained once again the American-Chinese customs dispute. New punitive tariffs came into force on both sides this weekend. On the one hand, the Trump administration imposed new customs duties on Chinese goods worth 112 billion dollars. China, for its part, countered, albeit with smaller calibres – US goods worth 75 billion dollars are now subject to special duties. Beijing picked out industries from the republican heartland in the Midwest and South. US President Donald Trump again called on American companies to look for suppliers outside China. However, as there is apparently still a willingness to talk on both sides, investors have been relatively relaxed recently.

Asia stock markets in the plus zone

Meanwhile, economic data from China has been providing a buying mood. The purchasing managers’ index calculated by the business magazine “Caixin” surprisingly rose to 50.4 points in August, indicating an expansion. The index primarily tracks sentiment in small and medium-sized companies. However, the situation is different for large and state-owned industrial companies. This index fell further in August to 49.5 points, as the Chinese statistics authority announced at the weekend. As always, you will find an overview here: Market Mover
Otherwise, the demonstrations in Hong Kong continued to weigh on people’s minds. In the People’s Republic, the CSI-300 nevertheless increased by 1.3 percent to 3,848 positions. Brokers were pleased with the government’s announcement of new economic stimulus packages. Plans include infrastructure projects and the opening of the financial market. The Nikkei 225 closed with a moderate minus of 0.4 percent at 20,620 points.

Caution in New York

Investors in the US had also been cautious about Friday. The Dow Jones saved a plus of 0.2 percent to 6,403 into the weekend. In August, the index posted a minus of 1.7 percent. The S&P 500 rose by a minimal 0.1 percent to 2,926 points on Friday. The Nasdaq 100 gave way 0.2 percent to 7,691 points.

Oil market under pressure

Meanwhile, there is interesting news on oil. According to Reuters, OPEC production increased in August because – as so often – there is no discipline in the cartel. Iraq and Nigeria, in particular, pumped more oil. Production was 29.6 million barrels per day, 80,000 barrels above the July level. This is an astonishing development when the supply from Iran and Venezuela has shrunk. No wonder that the oil price has come under pressure recently.

This is what the day brings

There is a yawning emptiness in the appointment calendar, which is likely to lead to restraint on the stock markets. For investors who trade stocks online, it’s more like a lost day. But not for everyone who trades CFDs – they can make a good return even with the smallest stakes thanks to the leverage.
The Bernstein Bank wishes successful trades!

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