The Dow Jones Industrial gained 0.41 percent to 39,331 points on Tuesday. The technology-heavy Nasdaq100 rose by 1.01 percent to 20,011 points. This meant that it passed the 20,000 point mark.
Tesla shares are rising
Tesla reported current sales figures in the afternoon. They were above the expectations of market observers. As a result, the Teslashares rose 10.2 percent.
Tesla now has a market value of $724.65 billion (€672 billion) – $67 billion (€62 billion) more than the day before. This is in line with the group value Munich Rethe largest reinsurance company in the world.
Also Apple rose, shares rose 1.6 percent to $220.27, putting the price roughly on par with the iPhone maker’s all-time high.
In the afternoon, gains in the German leading index had increased Dax of the past three trading days. Ultimately, the DAX fell by 0.69 percent to 18,164 points. The MDax The mid-sized shares lost 0.47 percent to 25,125 points. Losses were also recorded throughout Europe.
“There are currently too many risks lurking on the financial markets, which are currently being compensated for by too few opportunities,” says stock market expert Andreas Lipkow. Despite a decline in June, persistent inflation in the eurozone is a cause for concern. The inflation percentage fell to 2.5 percent in June from 2.6 percent in the previous month. However, core inflation was higher than observers had expected.
The cost of craft services continues to rise
The negative view of current inflation was also reinforced by the report that costs and wages in the craft sector continue to rise.
Crafts president Jörg Dittrich told the German Press Agency that costs and wages were up, but sales would fall slightly. “I understand that there are people who ask, ‘Why are traders so expensive?’ As an industry, we share this concern, because we depend on customers who can afford our services and products.”
If craftsmen’s services become unaffordable, there is a risk that supply will disappear or that people will increasingly turn to undeclared work, said the chairman of the Central Association of German Craftsmen. “That is neither in the spirit of craftsmanship nor in the spirit of society. Where we already see some of this threatening development is in hairdressing. The challenges for the wage-intensive sectors of the economy remain great, especially due to rising social security contributions.”
Craftsmen are particularly disadvantaged here. It is crucial that the labor factor is alleviated.