Strong Start for the DAX – Sustainably Above 24,000 Points Again?
The German leading index got off to a good start on Monday, treating investors to a positive start to the week with a performance of 0.78 percent. The DAX closed at 24,132.41 points, significantly above the 24,000 mark again. However, the question of whether the breakthrough to the upside, and thus toward the all-time high, has finally succeeded remains open. Two factors currently suggest it is too early to conclude that the path back to the record high is already settled.
Momentum Fades: Subdued US Markets and Chart Resistance Curb Enthusiasm
Firstly, the DAX could not maintain the strong momentum from Monday morning and gave back a significant portion of its gains after midday. This could indicate that a retest of last week's low, around 23,900 points, cannot be ruled out. Secondly, US markets also started the week tentatively, and the previous week's trading range has not yet been sustainably broken to the upside. Fundamentally, there is little new to report, suggesting technically driven trading. The focus remains on the US technology giants with their multi-billion dollar deals in Artificial Intelligence, while markets are already looking ahead to the US labor market data to be released next Friday.
Rheinmetall Leads the Pack – Siemens Energy Nears New Record High
Among individual stocks, Rheinmetall once again surged to the top of the index, securing the day's victory with a performance of 4.2 percent. The defense company was closely followed by Siemens Energy, which recorded a price increase of 2.5 percent. The Siemens Energy stock is now on the verge of reaching a new record high, targeting the 110 euro mark. The strong performance of these two stocks continues to signal a concentration of buying interest in cyclical and forward-looking sectors.
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