Mercedes shares jump in the DAX, BASF and Deutsche Bank also post gains.

Even on the day of the Fed's interest rate decision and ahead of important quarterly figures from the US technology sector, the German stock market barely moved in early trading. It thus continued its sluggish start to the week. The action is currently in New York, where the AI ​​craze is driving ever new record highs, even though the US stock markets had lost some momentum towards the end of trading the previous day.

The DAX was last quoted at 24,269 points on Wednesday, virtually unchanged. The MDAX, which tracks mid-cap companies, was slightly down at 30,182 points. The EuroStoxx 50 , the leading index for the Eurozone, rose by 0.4 percent.

This evening, the Federal Reserve's monetary policy committee will announce its interest rate decision, with the market anticipating a 0.25 percentage point cut. "This is already priced into the markets," wrote portfolio manager Thomas Altmann of asset manager QC Partners. Crucial for the stock markets, therefore, is the future interest rate path outlined by Fed Chairman Jerome Powell. "The markets are expecting another rate cut in December. Should Powell temper this expectation, the markets could react with disappointment."

Leading up to the Fed's interest rate decision this evening and the quarterly earnings reports from "Big Tech" companies like Microsoft, Alphabet, and Meta after the US stock market closes, the earnings season is attracting attention in Germany: Four DAX-listed companies – Deutsche Bank , BASF, Mercedes-Benz, and Adidas – are in the spotlight with their financial results. Initial market reactions have been positive.

Deutsche Bank's earnings figures were a positive surprise. Shares rose by 2.5 percent, while those of its subsidiary DWS gained 3.5 percent after the release of its results. The asset management company performed strongly, according to the investment firm Jefferies.

The quarterly report of the chemical company BASF also The announcement was well received, with shares gaining 2.8 percent. Shares of sporting goods manufacturer Adidas were only slightly higher.

Mercedes-Benz shares jumped 7.5 percent. "All in all, a very strong quarter in the context of the global customs and economic environment," praised Jose Asumendi of JPMorgan, referring to the Stuttgart-based company's performance.

Asumendi also attested to a robust third quarter for the truck manufacturer Traton . The outlook was better than feared. The share price rose by 2.4 percent.

Online pharmacy Redcare managed to increase its operating profit slightly more than expected in the third quarter. However, the shares, which had been significantly higher in pre-market trading on the Xetra exchange, subsequently declined somewhat.

The record rally on US stock exchanges continued on Tuesday. The Dow Jones Industrial Average , S&P 500, and Nasdaq 100 each surpassed significant milestones. "The AI ​​party in New York continues," commented Christine Romar, Head of Europe at broker CMC Markets. Ahead of the quarterly reports from its most prominent AI companies, the Nasdaq continued its upward trend. Investors were eager not to miss out on another boost to the rally should Microsoft , Alphabet , and Meta again exceed expectations on Wednesday, and Apple and Amazon on Thursday.

In addition, the US Federal Reserve is expected to cut interest rates by 0.25 percent. This decision is also expected midweek. The Dow Jones Industrial Average jumped above 47,900 points for the first time at the start of trading. The most well-known Wall Street index ultimately closed the day with a gain of 0.34 percent at 47,706 points. The broader S&P 500 also climbed above the 6,900-point mark for the first time before closing up 0.23 percent at 6,890 points. The Nasdaq 100 surpassed the 26,000-point mark and rose 0.74 percent to 26,012 points.

Oil prices fell slightly again on Wednesday. The price for a barrel (159 liters) of North Sea Brent crude for December delivery dropped by 9 cents to $64.31. A barrel of US WTI crude cost $60.08, down 7 cents from the previous day.

Since the beginning of the week, the announced US sanctions against the Russian oil industry have failed to provide further support for prices. Last week, the surprising shift in the US government's Russia policy had driven the price of Brent crude oil from the North Sea up by about four dollars per barrel.

Market analysts reacted to recent statements from oil-producing Iraq. According to these statements, the OPEC member intends to increase the production volume permitted by the cartel. "The timing of the news is not surprising, as Iraq is currently exporting 3.6 million barrels of oil, which is around 200,000 barrels per day more than in the previous month," commented commodities expert Carsten Fritsch of Commerzbank.

Market observers believe that concerns about an oversupply in the oil market are once again taking center stage. Most recently, the International Energy Agency (IEA) pointed to a growing oversupply in the oil market.