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Stay ahead of the game with our Tuesday Market Movers report, where we bring you the latest updates on stock movements and key events impacting the market.
In the tech sector, we saw mixed results with Infineon Technologies holding steady while SAP rallied on the back of strong Q1 cloud revenue figures.
Bank stocks continued their upward trajectory, with Commerzbank and Deutsche Bank posting solid gains. Auto stocks, on the other hand, had a mixed session with BMW and Porsche seeing gains, while Mercedes Benz Group declined.
What to Watch For: German Business Sentiment, ECB Commentary, and Earnings Reports
As we look ahead to Wednesday, all eyes will be on German Ifo Business Climate figures, ECB commentary, and corporate earnings reports.
Investors should pay close attention to the Ifo Business Climate Index, as well as manufacturing and services sector trends. Additionally, ECB Executive Board members are scheduled to speak, providing insights into market sentiment and potential interest rate cuts.
In the US, core durable goods orders will be a key focus, along with earnings releases from big names like Boeing, Meta, and Ford.
Your Near-Term Outlook: What to Expect
As we navigate the near-term trends, factors such as corporate earnings, US economic data, and ECB guidance will shape market sentiment. Sticky inflation and fears of a US recession may test demand for riskier assets, but corporate earnings could sway DAX trends.
On the futures markets, the DAX and Nasdaq mini are showing positive momentum. Stay tuned for the latest updates on market movements and technical indicators.
Dive into DAX Technical Indicators
Daily Chart
For those tracking the DAX, keep an eye on key technical indicators like the 50-day and 200-day EMAs. A breakout above the 18,200 handle could signal further upside towards the 18,350 level.
However, a dip below the 18,100 handle may indicate a potential pullback to the 50-day EMA. The 14-day RSI suggests a return to the 18,350 level before entering overbought territory.
Remember to consider market updates, economic data, and earnings reports to stay informed and make informed investment decisions.
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