The DAX index finished lower in Monday’s trading at 13,198.37 down 30.19 points or 0.23% for the day. By the end of yesterday’s trading, there were 342 stocks on the Frankfurt Stock Exchange that incurred losses which were more than the 337 that finished in the green while 81 ended the day flat. Leading the gains was Wirecard at 3.27% while Infineon Technologies lost the most among blue-chip stocks which was down 1.27%.
Concerns on the US-China trade deal continued to weigh down on equities following US President Donald Trump’s warning on Friday that he has not yet agreed to any deal. Mounting tension in Hong Kong also added to risk aversion. Over the weekend, there was news that police shot at protesters, leaving at least one person dead and a few others wounded.
ZEW Reports, Trump Speech
Today, reports on economic sentiment will be released by ZEW at 10:00 am GMT which could provide the index with some support. It is expected to show that Germans have grown less pessimistic about economic conditions this month with the report eyed at -13.2 from -22.8 last month. Meanwhile, the euro zone ZEW economic index is anticipated to print at -11.5 from -23.5 in October.
The DAX Index traded lower to close the weekend gap from Monday’s market open. Positive numbers from Europe could help it find support around Friday’s highs.
Aside from these economic reports, equities could also see some volatility today when US President Donald Trump makes a speech at the Economic Club of New York. He is expected to shed more light on the US-China trade deal and he may even comment on the upcoming deadline of the US’ auto tariff investigation on the EU. Remarks that indicate there are no deals yet regarding tariffs on Chinese goods or that the US would impose tariffs on European cars could spark risk aversion and send equities even lower.