DAX APPLE Microsoft and AI
DAX (+0.9%) hits a new record high! US jobless claims jumped, Important for EV manufacturers and AI!
Share this:
Hi traders and those that want to become one.
We slipped into Thursday already. I have some interesting market bites of information to finish of the day.
Europe/UK
Today BoE left rates unchanged but appear to become more willing to cut rates sooner than later. More voted for a rate cut than at the last meeting, giving hope that a cut might come this year.
GBP/USD is stuck within thin range around 1.2500.
In Europe, the DAX (+0.9%) hits a new record high! See the following chart, Covered yesterday in my analysis the DAX hit the level determined and appears to be continuing with strength into the end of the week, currently we are finding ourselves at a level of support, with the MACD pointing upwards and the Stochastic RSI in overbought territory. If the buying continues into Friday as shown in the Stochastic RSI then the next important level is the psychological level of 18,700.
USA
Americas US jobless claims jumped and gave fresh evidence of a cooling US labour market. As a result Gold was up +0.85% and silver +2.1%. This might be evidence that the rates are doing what they are supposed to. I am longing to see further announcements soon. DOW hits sixth straight green trading day, the longest winning streak of the year.
FTX’s customers are getting their money back—plus interest. This comes as investigations found enough money to pay back customers, however investors might be left out.
In energies and as a positive for the climate, a record-breaking 30% of the world’s electricity was produced by renewables last year as wind and solar power got more popular.
Important for EV manufacturers. The US Commerce Secretary Raimondo said the US could ban Chinese-connected vehicles or impose restrictions. On a separate occasion it was also reported that US Senator Brown is seeking an entire US ban on all Chinese internet-connected vehicles, acco Chinese rding to Bloomberg.
International
USD/JPY briefly retreated after the BoJ SOO suggested an openness to future hikes, although the move was quickly reversed.
Ukraine drone attack sparked a fire and damaged oil tanks at a refinery in Russia's Krasnodar, according to regional officials.
Company News
Uber profits hit the brakes. The company reported a surprise loss for the first quarter of 2024. Lyft on the other hand step on the gas. In a separate incident, Instacart and Uber—grocery delivery rivals—announced Tuesday that they are partnering to better compete with DoorDash.
Apple unveiled new iPad models for the first time since 2022. Featuring a new M chip with you guessed it, AI features.
Microsoft announce $100 billion data-center project.
My view
I feel we have another trend coming in AI Yes, it all started since last year with Semiconductor companies now trading double to last year. But currently the news are increasingly pushing out coverage of AI, generative AI, AI generated drugs, AI generated materials. Free thinking robots, Swarm robots. And there is a lot of Hype involved.
Google raised the stakes yesterday when its DeepMind AI research laboratory, in partnership with Isomorphic Labs, released AlphaFold 3, an AI model that “predicts the structure and interactions of all of life’s molecules.” This might come positively for drug innovations where humans don’t have the necessary processing power just yet. This is the early stages but AI is definitely evolving at an ever more constant rate.
Have a good day everyone,
Follow me for more news: http://twitter.com/PhilipForexCom
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
DAX Tests 26,000 as Markets Await AMD and US Election Results
The DAX remains close to 26,000 points after extending its recovery, but the market's attention is shifting away from geopolitics and back toward earnings, economic data and US politics. Reports from Bayer, Lufthansa and Fresenius Medical Care highlight a market increasingly rewarding profit growth while punishing weak guidance. With US midterm elections, JOLTS job openings and AMD earnings on today's agenda, the next move in equities may depend less on technicals and more on whether earnings and economic data justify current valuations.
DAX Faces Defining Day with ECB, US GDP and Earnings
Today's session is dominated by three major catalysts: the ECB rate decision, US GDP and inflation data, and a packed earnings calendar featuring Amazon, Intel, Mastercard, Caterpillar and Volkswagen. While the DAX has reclaimed the critical 25,500 level, and sliced up right to around 26,000. The move back toward support will likely be determined by central bank guidance, inflation signals and corporate earnings.
DAX Faces Fresh Pressure from Tech Rout and Middle East Risks
The DAX has come under renewed pressure as another technology-led sell-off on Wall Street undermines global risk sentiment. While the index remains above key October lows, the recent recovery is losing momentum as investors reassess AI valuations, rising energy prices and escalating geopolitical risks. With oil climbing and major technology stocks facing renewed selling pressure, the focus has shifted back to support levels rather than fresh highs.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.