FRANKFURT (dpa-AFX) – Surprisingly weak signals from the US labor market weighed on the DAX on Friday. Although the job data leaves little doubt that the US Federal Reserve will cut interest rates in just under two weeks, it also heightened concerns about the economy. The DAX ultimately closed 0.73 percent lower at 23,596.98 points at the end of the week.
This saw the leading index slip back well below the 100-day average line, which it had only regained the day before after its slide on Tuesday. This line serves as an indicator of the medium-term trend. Over the week as a whole, the DAX fell by around 1.3 percent. In contrast, the MDAX index of medium-sized companies gained 0.74 percent on Friday to 30,011.98 points.
The US economy once again created significantly fewer jobs than expected in August. Unemployment also rose. This has not only opened the door to falling interest rates, but has thrown it wide open,…
