The FTSE 100 has rebounded from the 8000 level, with a close above 8200 needed to confirm a recovery, while the DAX has pushed above 19,000, aiming for October's high near 19,700. In contrast, the Dow Jones is under pressure, influenced by cautious comments from Jerome Powell, with the 42,000 area serving as a key support level.
The remarkable rise of the DAX and S&P 500 is threatened by unprecedented borrowing levels, as the US government, under President Biden, has taken measures to avert an economic downturn. Despite aggressive interest rate hikes, the economy remains stable, with new debt projected to exceed 7% of GDP, reminiscent of wartime financing and the New Deal era.
US economic data shows a robust GDP growth of 2.8% in Q3, complicating potential interest rate cuts by the Federal Reserve. Meanwhile, inflation has resurfaced in the eurozone, causing concern among investors as the DAX index weakens, approaching critical support levels.
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