The German stock index (DAX) is expected to start trading positively today. An initial indication sees the stock market barometer 0.6 percent higher at 25,546 points.
On Tuesday, the leading German index ended trading with a slight increase of 0.1 percent at 25,399 points. Experts believe that the DAX is showing robustness despite the unclear situation in the Persian Gulf. “The principle of hope currently dominates the German stock market,” says Timo Emden, chief market analyst at CapTrader.
Negotiations with the USA over the Strait of Hormuz continue, according to Iranian Foreign Minister Abbas Araghchi. According to agencies, the Gulf state of Qatar is currently trying to find a solution to the deadlocked conflict, the Iranian foreign minister said in New York.
Oil deliveries through the contested Strait of Hormuz are said to be increasing, but there are also repeated reports of ships being fired upon. Timo Emden from CapTrader warns: "Even if the prospect of further talks between the warring parties prevents a complete breakdown in mood in view of record bond yields and still high oil prices, tension is likely to remain high."
Today, the first inflation figures from the Federal Statistical Office for September are likely to attract attention in Germany. Experts expect that inflation could have risen to over three percent due to the Iran war and expensive energy prices.
Fears of persistently high interest rates have weighed on Wall Street. The Dow Jones index of standard stocks closed 0.3 percent lower at 51,349 points. The broader S&P 500 fell 0.2 percent to 7,670 points, and the technology exchange Nasdaq index fell 0.1 percent to 26,797 points.
Rising yields on the US bond market had previously weighed on share prices. The yield on ten-year government bonds temporarily climbed to 5.293 percent, the highest level since June 2007. During trading, the stock exchanges curbed their losses as yields fell slightly again. In addition, oil prices fell.
Fresh economic data painted a mixed picture of the US economy. While the number of job vacancies fell more than expected to around 7.08 million in August, consumer confidence fell to its lowest level in more than 12 years in September.
The US tech industry appears to remain on a growth path. Ulrich Stephan, chief investment strategist for private and corporate customers at Deutsche Bank, emphasizes that US technology stocks have led the S&P 500 in the past four weeks and have gained around six percent in euros: "The sector has therefore proven to be resilient to rising energy prices and higher capital market interest rates."
The investment cycle in the area of artificial intelligence continues to provide tailwind. Ulrich Stephan: "Analysts raised their profit expectations for 2028 by a further ten percent within a month. They now expect profits for 2028 that are 83 percent above the level of 2026."
Also attracting attention was US AI company Anthropic's announcement of its IPO: The company is reportedly aiming for a valuation of over $2 trillion. That would surpass space company SpaceX, whose IPO is considered the largest in history.
US President Trump has spoken out against international regulation of artificial intelligence. After meeting with US tech industry leaders at the White House, Trump said companies should police themselves.
At the meeting, an agreement was signed with representatives of the tech industry. Meta CEO Mark Zuckerberg said the companies had agreed to develop “robust internal controls” for their AI systems. Auditors would monitor these procedures and report to company boards.
The US government is also said to be considering setting up a committee of around ten people to oversee the AI industry. Trump described the document as “morally binding” and a kind of “constitution.”
Trump emphasized that he did not want to work with Chinese President Xi Jinping on regulating AI. Because that would make it more difficult for US companies to develop better AI products than their Chinese competitors.
Due to increasing AI security incidents and warnings from AI bosses, calls for the industry to be regulated as internationally as possible have become louder.
The ChatGPT developer OpenAI has currently canceled the release of a new AI model due to security concerns.
