Shearing a tree stock exchange: The (un)perfect exchange recovery

This trading week was in the Dax, just as historical as the past quarter. On Tuesday, the best-known German stock market barometer rose again than 13,300 points

Shearing a tree stock exchange: The (un)perfect exchange recovery

This trading week was in the Dax, just as historical as the past quarter. On Tuesday, the best-known German stock market barometer rose again than 13,300 points and was thus again above the closing level of the previous year 2019. The stock exchange has switched obviously from crisis mode to "pre-Corona". The recent news from this trading week is underscored by this scenario, apparently:

So, Daimler has made the investors with its latest Numbers for hope. Hope for better times and especially profits. Analysts believe this once already. Citigroup to slash its "sell" recommendation – the Outlook for the vote of confidence. We go to America:

As Tesla has shown for the first Time in its history, four quarters in a row profit. What is for the majority of corporations in this world of normality, means that the hyped Tesla group is even now the possibility in the broad S&P 500 Index to rise.

Tesla shares, TESLA INC. DL -,001 -- -- (--) NASDAQ trade gate Xetra London lang & Schwarz in Frankfurt, Stuttgart, Switzerland, Vienna, Switzerland OTCSchweiz 1T 1W 3M 1J 3J 5J For detail view

Similarly, with Microsoft one of the Top high-tech companies revealed that the Corona of a crisis is not such a big one. The Windows group was able to exceed sales expectations.

room for positive Surprises

Bad news are actually Standard to a half-year, in the around the world economically, not much went. Especially exciting are the views and forecasts were for the numbers of publications. Not infrequently, it was not, the company to trust, it simply.

submitted Only 11 percent of the companies in the S&P 500 have an estimate for the earnings per share for the year 2020. At the same time, the forecasts of the analysts are placed in turn as wide as for many quarters, not more. According to experts such as Salman Baig by the asset Manager Unigestion is expected that profits per share in the United States will shrink in comparison to the previous year by 45 percent. "Such declines last seen during the great financial crisis of 2008. We believe, however, that this pessimism creates room for positive Surprises,“ said Salman Baig.

According to Tilmann Galler, the price-to-earnings have increased, meanwhile, ratios (p / e) strong – because on the one hand, the prices increased, the gains are like. Accordingly, the potential of the share markets has moderated, according to the experts.

A blueprint for the economy?

According to this historically unique rapid recovery in the markets, the question of whether V-shaped development of the share could represent markets a blueprint for the development of the economy, however. From the point of view of Tilmann Galler, capital market strategist at J. P. Morgan Asset Management, the recovery remains "incomplete", since the corona crisis is still not overcome. In addition, the U.S. elections in November back in the next few weeks, gradually in the field of view with its potential political implications for the markets.

Updated Date: 24 July 2020, 10:20

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