Uncertainty in the stock market remains. Although the US Federal Reserve hinted at a pause in interest rate hikes, this is not certain. Investors who had hoped Fed Chairman Jerome Powell would call the interest rate summit were disappointed. The markets in this country reacted accordingly on Thursday.
Archibald Preuschat
Editor in the economy
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In their statement on the interest rate decision, the monetary authorities in the USA deleted an important passage according to which further interest rate hikes were to be expected. However, additional increases were not explicitly ruled out.
In the meantime, the German benchmark index Dax slipped below the important support level of 15,700 points on Thursday and fluctuated around this mark in the further course. The focus is now on the European Central Bank, which will announce its interest rate decision in the early afternoon. Will it leave it at a 25 basis point rate hike, or will it take another half a percentage point step?
The flood of quarterly figures receded into the background in view of the central banks. Rheinmetall's shareholders, who have been spoiled by success, were not satisfied with the figures for the first quarter, while good news from chip manufacturer Infineon fizzled out in the overall situation. The share prices of the housing group Vonovia and the consumer goods and adhesives manufacturer Henkel also fell in value at times. At noon, the Dax was trading at 15,715 points, a good 0.6 percent below Wednesday's closing level.