DAX Approaches Record High as Markets Anticipate US Rate Cuts
An agreement to speed Chinese rare-earth shipments to the US has bolstered confidence in export-linked stocks.
Overview
- The DAX climbed 0.7% on June 27 to 23,806 points, extending its weekly gain to about 1.3% and bringing it closer to its all-time high of 24,479.
- Investors are speculating that President Trump may replace Fed Chair Jerome Powell before his term ends, raising hopes for earlier interest rate cuts.
- A White House spokesman confirmed a US-China deal to speed up rare-earth shipments, boosting sentiment for export-driven stocks.
- Major US indices ended the week higher—Dow +0.9%, S&P 500 +0.8% and Nasdaq +1.0%—as Asian markets hit three-year highs, reinforcing global equity momentum.
- HSBC chart analysts project the index could retest its 24,479-point record if current trends continue.