On Wednesday, the DAX continued its record series, reaching a new all-time high of 24,152 points. At the close of trading, the index was at 24,112.4 points, which corresponds to an increase of approximately 0.4 percent. This new record high is of great relevance to investors as it signals the ongoing strength of the German stock market.
An Extraordinary Rise of the DAX
The DAX had already surpassed the 24,000-point mark for the first time on Tuesday, leaving behind several thousand-point milestones this year. Since the low point on the so-called “Panic Monday,” the index has gained over 5,500 points or about 30 percent – an extraordinary rally within just six weeks.
Market Expectations and Possible Corrections
Despite the new record high, the market expects a breather as the DAX is considered “overbought” from a technical perspective, and investors might act more cautiously in light of weaker US markets. A setback was anticipated on Thursday, with the broker IG estimating the DAX slightly below the previous day’s close in the morning.
In summary, the current development of the DAX shows strong upward momentum with new historical highs around the mark of over 24,100 points – a signal of the confidence many investors have in the German stock market despite possible short-term corrections.