DAX ends September in the red - concerns about inflation and oil prices are weighing on the markets

The DAX ended September with a loss and is likely to continue at the beginning of the new month. The broker IG currently estimates the German leading index 0.5 percent lower at 25,078 points. This is now the lowest level since the end of July.

On Wednesday, the surprisingly strong rise in inflation put pressure on the stock markets in Europe. Record high fuel prices drove the inflation rate in Germany to 3.3 percent in September, the highest level in almost three years. At the close of trading, the DAX was 0.8 percent lower at 25,199 points.

The specifications from Asia don't really speak for profits: Investors there held back because of bond yields that are at multi-year highs and high oil prices. The hope of an interest rate break in the USA has long since evaporated. Data showed that US inflation rose less than expected in August. This reduced the likelihood of another interest rate hike by the Federal Reserve in October.

"The weaker US data has taken the pressure off Fed expectations and short-term yields, but concerns about the cost of capital have not really gone away as long-term yields remain high," said Charu Chanana, investment strategist at Saxo. Rising crude oil prices as a result of the US-Iran war and extremely high diesel costs fueled inflation concerns and drove up US Treasury yields.

In the evening, crude oil prices rose again after US President Donald Trump rejected easing sanctions against Iran. The North Sea variety Brent and US light oil WTI rose in price by around one to 2.5 percent to $103.81 and $91.50 per barrel (159 liters). In the morning the situation at least eased somewhat: the price of Brent crude oil from the North Sea fell by 0.3 percent to $97.69 per barrel (159 liters).

In Tokyo, the Nikkei index rose 2.4 percent, with chip stocks in particular in demand after the strong figures from the US company Micron. The stock exchanges in South Korea, on the other hand, showed little change, while the markets in Shanghai remained closed due to the public holiday.

Continued high demand for memory chips helped Micron achieve another record quarter. The company increased its sales fivefold in the past three months to $54.23 billion. Adjusted earnings increased elevenfold to $33.42 per share. All of these key figures were well above market expectations. “We expect even better results for the 2026/2027 financial year,” said Sanjay Mehrotra, the head of the semiconductor manufacturer.

“These excellent business figures and forecasts should finally take the wind out of the sails of all doubters about the sustainability of AI expansion,” said Bob O’Donnell, chief analyst at research house TECHnalysis.

Wall Street did not find a clear direction on Wednesday: the Dow Jones index of standard stocks closed 0.9 percent lower at 50,906 points. The broader S&P 500 fell 0.3 percent to 7,651 points. The index of the technology exchange Nasdaq rose by 0.2 percent to 26,861 points. For the past month, this resulted in a loss of 4.3 percent for the Dow and 0.4 percent for the S&P. The Nasdaq, on the other hand, rose by 1.9 percent.