{"id":13375,"date":"2019-10-29T12:29:05","date_gmt":"2019-10-29T11:29:05","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=13375\/"},"modified":"2019-10-29T12:29:05","modified_gmt":"2019-10-29T11:29:05","slug":"take-a-deep-breath-after-the-summit-storm","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/take-a-deep-breath-after-the-summit-storm\/","title":{"rendered":"Take a deep breath after the summit storm"},"content":{"rendered":"

<\/p>\n

29.10.2019 \u2013 Daily Report.<\/strong> The bulls on the Frankfurt Stock Exchange are taking a breather. This is understandable after the constant annual highs. After the all-time high of the S&P 500 the night before, the Federal Reserve is now the focus of attention. Anything other than a rate cut would be a disappointment. The British pound also remains exciting.<\/strong><\/p>\n

Take a breather in Frankfurt<\/strong><\/h2>\n

Investors in Frankfurt initially held back in early Tuesday trading. The DAX rose 0.2 percent in the morning to 12,917 points. This is understandable after almost a week of gains. Only yesterday the German benchmark index climbed to a new annual high of 12,986 points. The 13,000 continue to magically attract the indicator.<\/p>\n

Trump bull because of China<\/strong><\/h2>\n

The day before, Donald Trump had strongly raised stock prices in global trading – and announced the same. He had been wrong about the previous forecast of this kind a few days ago. Yesterday, the US President told journalists about the customs negotiations: “We are ahead of schedule”. The first part of the agreement with China could be signed at the summit in Chile in mid-November. The speculations on the floor are intensifying that Trump definitely wants an agreement so that the stock exchange does not crash – which would jeopardize his chances of being re-elected in 2020. Oh yes, there was something there: only very few people still think the Democrats’ impeachment project is realistic. Let’s wait and see what else comes out.<\/p>\n

CSI-300 nevertheless resets<\/strong><\/h2>\n

The stock market in China declined despite the progress that had been made. This is probably due to the fact that the USA continues to torture Beijing. In particular, the shares of telecom equipment supplier Huawei lost ground. The US regulatory authority wants to classify Huawei and its rival ZTE as risks to national security. In the People’s Republic of China, the CSI-300 fell 0.4 percent in the morning to 3,910 points. In Tokyo, on the other hand, the Nikkei index retired 0.5 percent stronger at 22,974 points. In the course of trading, the index had passed the 23,000 mark, thus climbing to its highest level for a good year.<\/p>\n

New York bull market<\/strong><\/h2>\n

The night before, Wall Street had presented a nice bull market. Brokers reported a veritable short squeeze. The Dow Jones gained 0.5 percent to 27,091 points. The Nasdaq Composite climbed 1.0 percent and closed at 8,326 points. Short note on the chart analysis: The high-tech index broke yesterday’s second price gap. The first one is still below 8037 points. The star of the evening was the S&P 500, which closed 0.6 percent higher at 3,039 points. The index thus marked a new all-time high.<\/p>\n

Everything is waiting for the Fed<\/strong><\/h2>\n

Investors are likely to hold back a little today. Tomorrow, Wednesday, the Federal Reserve will decide on the key interest rate. The majority believes that the Fed will cut the interest rate by 0.25 percentage points in order not to let the economy cool down.<\/p>\n

Tension at Sterling<\/strong><\/h2>\n

It remains interesting with Sterling. Should Prime Minister Boris Johnson prevail with his plans for a new election, the Pound should strengthen strongly. According to all current polls at the ballot box, Labour would receive the receipt for the latest sabotage tactic, which ultimately played into Brussels’ hands and weakened its own country’s negotiating position. Yesterday Johnson initially failed with the new election plan, as a two-thirds majority is required under the existing law, the 2011 Fixed-term Parliaments Act. However, Boris now wants to introduce a new law that could allow new elections by simple majority. If he wins, the constant Brexit disruption manoeuvres in the House of Commons should be a thing of the past.<\/p>\n

This is what the day brings<\/strong><\/h2>\n

In addition to the entertaining political theatre in the House of Commons, the US accounting season also occupies traders.
\nIn the USA the pending house sales will arrive at 3pm fort he month of September.
\nAt the same time, consumer confidence is to be reported for October.
\nAnd as mentioned, the two-day meeting of the Federal Open Market Committee (FOMC) of the US Federal Reserve begins.
\nAs always, you can find the complete overview here: Market Mover<\/strong><\/a><\/p>\n

The Bernstein Bank wishes you successful trades!<\/p>\n

Important Notes on This Publication: <\/strong><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

29.10.2019 \u2013 Daily Report. The bulls on the Frankfurt Stock Exchange are taking a breather. This is understandable after the constant annual highs. After the all-time high of the S&P…<\/p>\n","protected":false},"author":37,"featured_media":13371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-13375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nTake a deep breath after the summit storm | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"The bulls on the Frankfurt Stock Exchange are taking a breather. This is understandable after the constant annual highs. 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