FRANKFURT (dpa-AFX) - On Tuesday, the DAX fluctuated around the 25,000-point mark. The continued record run of the Dow Jones Industrial on New York's Wall Street failed to provide lasting momentum in the afternoon, especially as its gains largely faded during the trading session. Ahead of the anticipated US jobs report for January, expected midweek, investors preferred to remain on the sidelines.
The situation on the US labor market is a crucial factor influencing the Federal Reserve's monetary policy, with hopes for interest rate cuts later in the year. The pace and extent of these cuts are currently key levers for stock markets worldwide.
Ultimately, Germany's leading index slipped by 0.11 percent to 24,987.85 points. The MDAX, which tracks mid-cap stocks, ended the day virtually unchanged, down 0.01 percent at 31,962.21 points.
According to chart analysts at UBS, a sustainable return of the DAX above 25,000 points is only likely if the gap from January 19 is closed. This would happen if the German benchmark climbs back to 25,300 points. In that case, further gains could follow, potentially reaching the record high of just over 25,500 points. However, around three weeks ago, the Greenland dispute initiated by US President Donald Trump had unsettled investors and triggered profit-taking.
Looking at Europe and the US, the EuroStoxx closed 0.20 percent lower at 6,047.06 points, after the eurozone's leading index had hit a new high during the session. Switzerland's SMI and London's benchmark index both posted moderate losses. In the US, the Dow rose by 0.5 percent after a record shortly after the opening bell, while the tech-heavy Nasdaq 100 hovered around its previous day's close./ck/he
