Dow rebound continues and DAX pushes back to recent highs
US markets continue their recovery, while the prospect of a vote on the German stimulus package has bolstered the DAX.
Wall Street
The Wall Street index continued to rebound on Monday, extending Friday's bounce from the six-month lows seen last week.
Continued gains above 42,000, the lows of late December and early January, would open the way to 43,317, the high from late December's short-lived bounce and the mid-October high. A reversal back below 41,000 would suggest a new leg lower has begun.
Wall Street daily chart
Germany 40
This Germany 40 index has shrugged off the weakness seen last week and has pushed back to the record highs above 23,000.
The index's resilience in the face of US market volatility may now point the way to further gains and new record highs. Whether this can be sustained in the event of an even deeper pullback in US indices remains to be seen. For the moment, any medium term move to the downside would require a drop below the 22,150 area, which marked the lows over the last month.
Germany 40 daily chart
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
