On Thursday, the DAX fell below the important 24,000-point mark despite positive earnings from NVIDIA and progress in the trade conflict. Thus, the index was unable to reach a new record high, which is a relevant development for investors.
Review of Market Development
Specifically, the DAX closed on May 31 just below 24,000 points at around 23,997, after previously trading above this mark multiple times. In the days before, the DAX had crossed the psychologically important threshold of 24,000 points for the first time in its history and even marked new all-time highs at around 24,082 points. These record levels were fueled, among other things, by hopes for a de-escalation in the Ukraine-Russia conflict and positive signals from the trade dispute.
Factors Influencing Price Movement
Despite these positive conditions – including strong numbers from US semiconductor manufacturer NVIDIA – there was a counter-movement on Thursday that slightly brought the index down and thus prevented the achievement of a new high. This could indicate that investors are becoming more cautious after the recent price increases or that profit-taking is occurring.
In summary, the DAX has achieved impressive records in recent weeks and occasionally closed above the 24,000-point mark, but on Thursday, despite favorable news, there was a pullback just below this threshold. This is a signal to market participants that short-term volatility remains and achieving new highs is not guaranteed.