As every Sunday, the most important news from the past week, as well as the dates for the coming week.

Also as a video:

https://youtube.com/shorts/hxnxmjjBPG0?si=_SHXks0BtBiDCQ6f

Tuesday:

The ifo Institute today announced the lowest value ever measured for the ifo Construction Barometer. The business climate fell from -56.9 to -59 points. There is still no turnaround in the construction industry, orders are not coming in and older projects are being canceled.

https://www.handelsblatt.com/politik/konjunktur/konjunktur-ifo-stimmung-im-deutschen-wohnungsbau-faellt-auf-tiefstand/100014660.html

Inflation in the USA is more persistent than expected, with inflation at 3.1% instead of 2.9%. This means that a turnaround in interest rates is unlikely to come as quickly as expected. Interest rates will therefore remain higher for the time being. The US dollar appreciated significantly against the euro.

https://www.bbc.com/news/business-68277677

Wednesday

$CSCO (+0,82%) Cisco, a stock from our public portfolio, delivered good figures but disappointed with its outlook. Sales were 6% below the previous year's level, but above expectations. The dividend is to be increased by around 3%. However, the sales and earnings outlook are disappointing.

https://www.wallstreet-online.de/nachricht/17792517-us-quartalssaison-cisco-scheitert-schwachem-ausblick-aktie-bricht-nachboerslich-ein

Thursday:

Our portfolio value $KGX (-2,89%) Kion misses analysts' earnings estimates, but beats the cash flow forecast. In our view, this is the more important value, which is why we cannot fully understand the sell-off. With a price/cash flow ratio of around 8, Kion remains very attractively valued in our view.

https://www.finanzen.net/nachricht/aktien/unter-erwartungen-kion-aktie-dennoch-im-plus-kion-schrammt-an-markterwartungen-vorbei-13263593

Friday:

Despite the recession, employment in Germany continues to grow and reached a new record high of 46.2 million people. However, at 0.3%, the growth rate was only at a low level. In our view, it is interesting to note that no jobs were lost, even in the construction industry. While the number of employees increased by 0.3 %, the average number of hours worked fell by 0.5 %. This means that the overall volume of work in the economy remained unchanged.

https://www.handelsblatt.com/politik/deutschland/beschaeftigung-rekord-bei-erwerbstaetigkeit-kaum-noch-wachstum/100015516.html

The three most important dates for the coming week:

Wednesday: 16:00 Consumer Confidence (EU)

Wednesday: 20:00 FED Minutes (USA)

Friday: 10:00 ifo Business Climate Index (DE)