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More records on stock exchanges. German DAX with new ATH
The stimulus package passed in the US fueled not only the US stock market, but also all the largest equity markets in the world. On December 29.12.2020, XNUMX, the new peak of trading was followed by the German DAX index. Optimism reigns in all markets.
Check it out: Brokers offering trading on DAX [List]
DAX index 30 reached a new record level on December 29.12.2020, 600. This is the result of a vote in the US House of Representatives that has decided to support US President Donald Trump's plan. He decided to increase the stimulus package for Americans from the planned USD 2 to as much as 2000. USD. The specific "275 plus" was supported by a vote of 134-XNUMX and although the bill still has to be approved by the Senate, its entry into force seems to be a formality. And this entry is very quick, because the Senate is to deal with the resolution today.
The index of the top 30 German companies also reacted very positively to this news. At. 10 was already 13878 points - the highest level in the history of trading, after an increase by 0,88% since the beginning of the day.
DE30 chart (CFD on the DAX30 index), H1 interval. Source: xNUMX XTB.
USA: stocks rise because there is more money in the market
Of course, there is also enthusiasm for the American indexes. Already after Christmas, new records were set on the Dow Jones indices, S & P500 and Nasdaq. Records have already appeared in anticipation of the stimulus package plans in the amount of USD 600, and after information about 2 thousand. USD and unemployment subsidies of USD 300 per week until the end of March, increases continue. No wonder: you don't need to be an eminent economist to draw the simple conclusions that consumer spending will improve and the risk of bankruptcies due to loan defaults will improve. This includes both individual bankruptcies and potential bank failures, which will not be repaid by customers.
All this makes the market reign of hyperoptimism. If we add to this the Covid-19 vaccination programs already underway, which heralds the containment of the epidemic in virtually every highly developed country, it is not surprising that investors see the future in a rosy color.
