FRANKFURT (dpa-AFX) – Investors on the German stock market held back from making new moves on Wednesday morning. The DAX slipped by 0.1 percent in the first minutes of trading, settling at 23,591 points. The MDAX, which tracks mid-sized companies, also lost 0.1 percent to 30,234 points. The Eurozone benchmark index, EuroStoxx 50, likewise edged down by 0.1 percent.
With the continued oscillation around the 23,600-point mark, the German blue-chip index remains in search of direction and is still trading below its 21-day moving average. Crossing this technical threshold would be seen as a short-term bullish chart signal, but the DAX has failed to do so since late August.
Wall Street is no longer providing positive momentum, as U.S. markets had to give up some ground on the eve of their latest record run. According to analysts at NordLB, cautious remarks from U.S. Federal Reserve Chair Jerome Powell regarding future…
