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Today, we are diving into the latest updates in the stock market, focusing on German trade, factory orders, corporate earnings, and US economic sentiment. We will also take a closer look at the DAX technical indicators to give you a comprehensive overview of the current market trends.
Tech Stocks and Auto Stocks Performance
Tech stocks such as Infineon Technologies and SAP saw gains on Monday, driven by positive sentiment toward the ECB rate path. Similarly, auto stocks like Mercedes Benz Group, Volkswagen, and Porsche experienced an uptick in buyer demand, with Volvo reporting a 27% increase in sales. However, Daimler Truck Holdings faced challenges as it trended lower post warnings about the European market.
German Trade, Factory Orders, and Corporate Earnings
Investors should pay attention to German factory orders and trade data on May 7. It is forecasted that factory orders will rise by 0.5% in March, while the trade surplus is expected to widen. Corporate earnings from companies like Ferrari, Siemens Healthineers, and Zalando SE will also be released, influencing market sentiment.
US Economic Sentiment and Corporate Earnings
The RCM/TIPP Economic Optimism Index and FOMC member commentary will be key highlights during the Tuesday session. Additionally, corporate earnings from companies like Walt Disney will impact buyer appetite for riskier assets.
Near-Term Outlook for DAX
The DAX’s near-term trends will depend on central bank commentary, corporate earnings, and economic indicators from Germany. Positive stats and earnings results, along with dovish central bank chatter, could fuel buyer demand for DAX-listed stocks.
DAX Technical Indicators
Daily Chart
The DAX is currently above the 50-day and 200-day EMAs, indicating bullish trends. A breakout above 18,200 could lead to a run at 18,350 and potentially reach the April 2 all-time high of 18,567. It is crucial to monitor German economic indicators, central bank commentary, and corporate earnings for further insights.
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