Dax turns negative before Xi-Trump meeting – oil price impacted

Dusseldorf. Investors initially held back on Thursday morning ahead of the meeting between Chinese President Xi Jinping and US President Donald Trump. In the morning, however, the Dax turned negative and was 0.9 percent below its closing price yesterday at 25,195 points. On Wednesday it ended trading around 0.7 percent in the red at 25,410 points.

Xi's first trip to the US in nearly three years will focus on tensions between the superpowers over trade and technology. A state banquet is planned for the evening, which will also be attended by the heads of US companies such as Apple, Nvidia, OpenAI and JPMorgan. Before that, the first statements from the heads of state are expected in the afternoon German time.

In the run-up to the three-day state visit, the US government recently extended the tariff break in the trade conflict with China. According to US Treasury Secretary Scott Bessent, the agreement has been extended until January 10th.

The high oil price continues to have a negative impact. North Sea Brent crude oil for delivery in November rose in price by 1.4 percent to $104.48 per barrel. On Wednesday, the Brent price temporarily rose by more than four percent.