Overview

• The DAX opened at a record high of 23,900 points on May 12, reflecting a 29% recovery since its April low of 18,489.
• A 90-day suspension of US-China tariffs, announced after weekend talks in Geneva, has fueled global market optimism.
• US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to release a joint statement detailing the trade agreement later today.
• Defense stocks like Rheinmetall saw significant losses, with shares dropping 6%, as Ukraine peace efforts raised hopes for de-escalation in the region.
• Bankhaus Metzler has cautioned that US tariffs remain high and has lowered its 2025 US growth forecast from 2.2% to 1.7%.