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DAX Nears All-Time High on Wall Street Rally and Fed-Cut Optimism

Investors are eyeing the July 9 EU-US tariff deadline

Overview

  • DAX trades just below its all-time peak of 24,479 points as European equities extend a rally fueled by global momentum
  • Record highs on Wall Street for the Nasdaq Composite and S&P 500 are bolstering European stock gains
  • Fed futures are pricing in more than two rate cuts of 25 basis points by year-end, lifting investor sentiment
  • Markets are fixated on the July 9 EU-US tariff deadline after which US duties of up to 50% could apply
  • Oil prices are subdued on anticipated OPEC+ production increases, and Deutsche Bank passed Fed stress tests while Volkswagen made its second $1 billion Rivian investment