DE30: DAX brakes bullish momentum, automakers release 2022 delivery data

• DAX brakes bullish momentum

• Markets await FED Powell speech

• Automakers publish their 2022 delivery data

Tuesday's trading session on markets from the Old Continent brings a slight deceleration of the bullish momentum sustained for days. Investor sentiment is directly influenced by comments from central bankers on the current macroeconomic situation. Yesterday, Fed bankers suggested that the Reserve will continue to fight inflation and will likely raise the upper limit of rates above the 5% barrier (currently 4.5%). Today at 3pm, Chairman Jerome Powell will speak at the Bank of Sweden conference. The Fed chairman's speech will be the most important reading on today's economic calendar.

Investor sentiment on the Old Continent is moderately negative. Most companies are currently trading down. Source: xStation 5

Company news and bank recommendations:

- The shares of Mynaric (M0Y.DE) are extending gains after yesterday's news of an agreement with a new, undisclosed US-based customer for the supply of CONDOR Mk3 optical communication terminals. The stock is gaining nearly 4% today.

- Unpier's (UN01.DE) CEO Klaus-Dieter Maubach, who took his position in 2021, is expected to leave this year. The departure is related to the takeover of the company by the German government. The company's shares are down more than 5% today.

- Retail sector companies are performing relatively poorly, due to concerns about further interest rate hikes and the materialization of the specter of economic recession. Zalando (ZAL.DE) shares are losing 4.5% today, while HelloFresh (HFG.DE) is down nearly 2.5%.

- Automakers are publishing their 2022 vehicle delivery figures. BMW (BMW.DE) delivered 2.1 million vehicles, down 5.1% from 2021, but still maintains its leadership in the premium segment. The company doubled sales of electric vehicles to 215,755 vehicles. The company is optimistic about the future due to large orders for electric vehicles.

Source: BMW  

Mercedes-Benz (MBG.DE) delivered 2.05 million vehicles, down 1% from last year. The brand's lowest-priced vehicle segment saw a more than 10% drop in sales. Sales of electric vehicles doubled to 117,800 vehicles.

Source: Mercedes-Benz

Volkswagen (VOW.DE) also presented its results. The group delivered 4.56 million vehicles, 6.8% less than last year. The company cites insufficient supply of semiconductors as the main reason. Sales of electric vehicles rose 23.6%, to 330,000 vehicles.

DE30 technical analysis:

DE30 futures broke above the zone of recent peaks on Friday and opened a path toward the next resistance near the 15,000-point level. Nevertheless, yesterday the bullish momentum moderately decelerated and outlined an irregular structure on the D1 interval. Weakening volume and overbought on the stochastic oscillator create a tentative foundation for further bullish progression. For the moment, however, DE30 quotes have not disrupted the current uptrend. Source: xStation 5