DAX Index Today: Updates on Eurozone Stats, US CPI Report, Earnings, and Hitting 19,000 Point Mark

Welcome to Extreme Investor Network, your go-to source for the latest updates on the stock market, trading, and financial news. Today’s session ended with mixed results, with the auto and banking sectors showing positive gains.

Leading the pack was Volkswagen, which saw a 2.61% rally after announcing plans to offload Traton SE shares. Mercedes Benz Group and Porsche also ended the session on a high note, up 1.42% and 1.04% respectively. BMW followed suit with a 0.78% advance.

On the banking front, Commerzbank and Deutsche Bank saw gains of 3.21% and 1.44% respectively. The news of French President Macron supporting consolidation in the European banking sector fueled buyer appetite for bank stocks.

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Eurozone GDP, Industrial Production, and Earnings

Looking ahead, investors will be keeping a close eye on the Eurozone GDP and industrial production numbers scheduled for Wednesday. Preliminary estimates indicate a 0.3% expansion in Q1 2024, which could impact market risk sentiment. Industrial production is also expected to increase by 0.5% in March.

In addition, corporate earnings from big players like Allianz, Commerzbank, Merck, and Thyssenkrupp AG will be in focus.

US Economic Calendar: US CPI Report, Retail Sales, and FOMC Member Speeches

The US CPI Report is set to influence market risk sentiment, with economists predicting a slight easing in the annual inflation rate. Retail sales figures will also be closely watched, as weaker-than-expected numbers could signal a softer inflation outlook.

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FOMC member speeches by Neel Kashkari and Michelle Bowman will add to the market chatter surrounding the Fed rate path.

Near-Term Outlook

As we look ahead, the DAX’s near-term trends will be shaped by the US CPI Report, central bank commentary, and corporate earnings. A hotter-than-expected CPI Report could impact investor bets on ECB rate cuts and buyer demand for DAX-listed stocks. Futures markets show positivity, with the DAX and Nasdaq mini up 64 and 9 points respectively.

DAX Technical Indicators

Daily Chart

The DAX remains bullish, sitting above the 50-day and 200-day EMAs. A break above the recent all-time high could signal a move to 19,000, while a drop below key support levels could lead to a bearish trend.

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Keep an eye on economic indicators, corporate earnings, US inflation numbers, retail sales figures, and FOMC member speeches for potential market-moving events. And remember, the key to successful trading is staying informed and adapting to market conditions. Stay tuned for more updates and analysis from Extreme Investor Network!

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