5 December 2024 – The latest economic data from the US points to continued stability and momentum. And the German share index DAX continues to hold near its recent record level.
US economy impresses with strength
The latest economic data from the USA paints an impressive picture of stability and dynamism. According to the JOLTS report, the number of job vacancies rose by 372,000 to 7.74 million in October. This significantly exceeded expectations of 7.48 million. Particularly noteworthy: the number of voluntary redundancies also reached its highest level for five months at 3.33 million – an indicator of employees’ confidence in their career opportunities.
Johnson Redbook Index rises by 7.4%
Consumer spending, a central pillar of the US economy, also continues to show strength. The Johnson Redbook Index, a measure of retail sales, rose by 7.4% year-on-year in the week ending November 30. This shows that consumer purchasing power remains high.
Markets react optimistically
The markets reacted accordingly optimistically. Yields on US government bonds rose slightly, while the US dollar gained in value against the euro. These reactions reflect investors’ confidence in the resilience of the US economy.
The latest figures underpin the robust condition of the world’s largest economy – a sign that exudes confidence at both national and global level.
German share index DAX gains 215 points
Wednesday also brought new record highs for the DAX. The leading German index closed the day up 1.08% at 20,232 points. In the course of the day, the DAX had reached 20,257 points, and there is no better buy signal in technical analysis than a record price. The market then regularly forgets about negative factors – even if only for a while. On Tuesday, the DAX closed above the 20,000 point mark for the first time in its history.
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