The DAX starts the shortened trading week with a significant upswing. This positive development is attributed to the recent tariff exemptions by US President Donald Trump, which have led to a temporary easing of the trade climate. Products such as smartphones and computers, which are mainly imported from China, are particularly affected. The DAX opened on Monday with an increase of over 2% to about 22,800 points, reflecting the overall positive sentiment in global markets.
Background and Current Developments
- Tariff Exemptions: Trump’s decision to temporarily exempt certain electronic products from tariffs has led to a recovery in the markets. It should, however, be emphasized that these exemptions are only temporary and new tariffs on technology imports may be introduced in one or two months.
- Market Developments: European and global markets are benefiting from the recovery of US markets. The S&P 500 and the Nasdaq 100 recorded strong gains in the previous week, positively affecting European markets.
- Economic and Political Factors: The upcoming US earnings season, the reactions of central banks, and the trade conflicts between the US and China remain crucial topics for the markets. Additionally, the decision of the Federal Cartel Office regarding Unicredit’s acquisition of Commerzbank is in focus.
Outlook
- Short-Term Perspective: The DAX is likely to continue being influenced by trade developments and ECB interest rate decisions during the shortened trading week.
- Long-Term Perspective: Predictions for the DAX until 2025 are mixed. An increase of 9.9% by April 2025 is possible but heavily depends on global economic and trade policy developments.
Overall, the situation remains uncertain for investors. Reactions to the tariff exemptions and the upcoming economic reports will continue to influence the markets in the coming weeks.