FRANKFURT (dpa-AFX) - The DAX is likely to head for the previous month's high of 24,441 points on Friday with further gains. Around two and a half hours before the start of trading on Xetra, broker IG valued the leading German index around 0.4 percent higher at 24,390 points.
The day before, the DAX had made an impressive turnaround after initial disappointment over Oracle's figures. In doing so, it broke the correction trend that had developed since the record high of 24,771 points in October. After the interim high in November, the DAX would still have to break through the barrier around 24,500 points to return to its record high.
The Dow Jones Industrial had already shown it how it was done the night before. It continued to benefit from the US Federal Reserve's interest rate cut on Wednesday, while technology stocks on the Nasdaq struggled. Here, following the Oracle report, high investment in artificial intelligence was once again the dominant topic.
The AI engine is humming, but investors should keep an eye on "fuel costs," Jefferies analyst Brent Thill warned in his response to Oracle. And that's exactly what they did, with Oracle's share price plummeting and the Nasdaq suffering slight losses./ag/zb
