Overview
- The DAX closed at 24,490, up 0.57% on the day, for a 23% full‑year rise that left it just shy of October’s all‑time high at 24,771.
- Trading was muted in a shortened session that ended at 14:00 CET, with many investors sidelined and occasional outsized moves in single names.
- Attention turns to the Federal Reserve’s meeting minutes for guidance on the 2026 rate path after a December cut that officials paired with expectations for only one further reduction.
- Market strategists highlight that much of 2025’s climb reflects multiple expansion rather than broad-based earnings growth, pointing to stretched valuations.
- AI optimism continued to support risk appetite, with Nvidia securing a non‑exclusive Groq product license and taking on some staff after unconfirmed takeover chatter.