Stocks of DAX constituents Commerzbank, Fresenius, Munich Re, Beiersdorf, and Tesla garnered attention prior to the Federal Reserve's decision, with their market performance being stable.
The S&P 500 ended Tuesday 0.1% lower at 6,606.76 points, while the Dow Jones today closed 0.3% lower at 45,757.90 points. The Nasdaq 100, on the other hand, lost 0.1% to 24,274.25 points.
In Europe, the main Asian markets found no clear direction on Wednesday morning. The Hang Seng of Hong Kong's special administrative region gained 1.7% on Wednesday morning, but the Japanese leading index Nikkei 225 lost 0.3%.
Germany's DAX (WKN: 846900) is expected to gain a few points at the start of today's trading. The DAX saw some significant movements on Tuesday, with Amazon, Apple, and Tesla's stock standing out. FMC, Fresenius, Mercedes-Benz, Porsche AG, and Merck KGaA were the strongest performers, while Commerzbank, Deutsche Bank, Hannover Rück, Munich Re, and Beiersdorf were at the bottom of the DAX.
Morgan Stanley has downgraded Wacker Chemie from "Overweight" to "Underweight" and lowered its price target from 99 to 59 euros. Meanwhile, Berenberg sees a change in favorite stocks in the obesity sector, with Novo Nordisk now receiving a buy recommendation and Eli Lilly being downgraded to "Hold".
The focus today is on the interest rate decision by the US Federal Reserve this evening, with economists expecting a 0.25 percentage point cut. Bank of America predicts a continued gold rally, with gold trading at $3,680 per ounce this Wednesday morning.
On the cryptocurrency front, one Bitcoin currently costs $116,695. Meta's Connect conference begins today, and Fielmann's Capital Markets Day is also happening. The Bank of America Financials CEO Conference took place today, with Unicredit and Commerzbank also in attendance, although there is no confirmation that they were joined by other banks such as Deutsche Bank or Commerzbank.
DER AKTIONÄR will report on all important developments and news on the national and international markets throughout the day. Stay tuned for updates.
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