Chip manufacturers in the USA and Asia are under pressure, and German companies are not spared from this. Investors are looking forward to the start of the accounting season with excitement.
Dusseldorf. The Dax defends its gains from the last few trading days and remains above the 25,000 point mark at the opening. In the morning, the leading index was barely changed at 25,207 points. At the close of trading on Monday it was just under 25,300 points.
With the start of the accounting season, the stock market will face an important stress test in the next few weeks. The big banks in the USA traditionally kick things off: the heavyweights Goldman Sachs and JP Morgan report on the third quarter on Tuesday before the start of trading on Wall Street. Citigroup and Wells Fargo are also opening their books. The financial figures from Morgan Stanley and Bank of America will follow on Wednesday.
In this country, BMW's sales figures for the third quarter and the traffic figures from airport operator Fraport are likely to cause movement.
Frank Sohlleder, analyst at ActivTrades, sees the Dax facing a massive return of volatility. With the opening of the US bond market there is a sudden threat of new pressure on yields, which could abruptly end the calm caused by yesterday's US holiday.
Oil prices fall slightly
Oil prices remain a dominant theme for markets amid geopolitical tensions in the Middle East and possible supply risks. The North Sea variety Brent fell by around 1.5 percent to around $105 per barrel (159 liters).
US President Donald Trump had previously said that Russia had agreed to supply diesel to global markets. His government has temporarily lifted US sanctions on Russian fuel.
At the same time, supply risks in the Middle East remained the focus of investors. “While fresh diesel supplies from Russia and more stable Saudi flows are providing some relief, the market still appears more concerned about the risk of further attacks on ships or pipelines in the Gulf,” said analyst Tim Waterer at brokerage KCM Trade. OPEC also lowered its forecast for oil demand growth this year to 400,000 barrels per day. At the beginning of the year it was still assumed to be 1.4 million barrels.
IMF Annual Meeting
The second day of the annual meetings of the International Monetary Fund (IMF) and the World Bank begins in Bangkok on Tuesday. Finance ministers and central bankers from all over the world meet here. The International Monetary Fund (IMF) presented its new forecast for the development of the global economy on Tuesday morning.
From the perspective of the IMF, the Iran war and the boom in artificial intelligence are dividing the global economy. While chip exporters such as Taiwan and South Korea grew significantly more than expected, oil importers, which did not have a strong tech industry, particularly suffered.
According to the International Monetary Fund (IMF), the German economy will grow significantly more this year than expected. In 2026, economic growth of 1.3 percent is now expected to be almost twice as strong as expected in July (0.7 percent), as the IMF announced. Economists now expect an increase of 1.1 percent for the coming year – 0.1 points more than before.
Central bankers speak
Various central bankers appear at meetings throughout the day on Tuesday. These include Christopher Waller from the US Federal Reserve and Frank Elderson from the European Central Bank.
Look at the individual values
Chip values: The technology industry is coming under increasing pressure. Reports of a Chinese company developing powerful AI chips are sparking massive profit-taking in semiconductor stocks in South Korea and other Asian markets. On Monday, the mood on Wall Street deteriorated significantly in late trading. The US technology sector and semiconductor stocks in particular recorded noticeable profit-taking. Chip values are also falling in this country.
Infineon: The chip manufacturer's stocks lost 4.6 percent at the start of trading.
Aixtron: The chip system manufacturer's shares fell by almost 4.2 percent in the morning.
Suss Microtec: Chip supplier Suss Microtec also lost XX percent.
