Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.

DAX starts the week quietly as policy and geopolitics stay in focus

The DAX traded in a narrow range of just over 100 points on Monday as investors slipped back into summer mode after the index's recent record-breaking run. Attention remains focused on the Iran conflict, energy prices and monetary policy, while AI stocks, precious metals and rare earths continue to attract selective interest.

written by

Andreas Lipkow

Chief Market Analyst

10 Aug 2026, 15:00

DAX slips back into summer mode

The DAX traded within a range of just over 100 points today and is likely to close broadly around Friday's level.

Following its recent record-breaking run, investors in Frankfurt appear to have slipped back into summer mode, approaching the new week with considerably more restraint. Potential market catalysts are becoming scarcer, leaving attention firmly focused on the three key themes of the Iran conflict, energy prices and monetary policy.

AI stocks offset higher oil prices

AI and semiconductor stocks once again attracted buying interest, helping to offset the negative impact of another modest rise in oil prices.

Investors also remain relatively relaxed because recent US labour market data have pointed to some cooling in employment conditions, while wage developments currently suggest little immediate risk of renewed inflationary pressure from the labour market.

Iran talks keep investors cautious

At the same time, negotiations between the United States and Iran remain ongoing, while the military situation has eased somewhat in recent days.

The majority of investors continue to expect a diplomatic solution, although the overall situation remains highly uncertain and difficult to assess.

Precious metals and rare earths draw attention

Investors are also allocating part of their portfolios to precious metals, providing modest support for both gold and silver.

In addition, rare earths are likely to move back into focus over the coming weeks. The United States is seeking to strengthen its strategic position in the sector and reduce its dependence on foreign supply.

DAX still searching for direction as Middle East talks remain uncertain

The DAX is still searching for direction as weaker US labour market data support risk appetite but Middle East talks remain fragile. Investors are also weighing higher oil prices, Japanese trade data and an earnings season that has so far remained broadly encouraging.

DAX lacks momentum ahead of the weekend as Middle East remains the key risk

The DAX lacks momentum ahead of the weekend as Middle East uncertainty keeps investors cautious. Strong Chinese exports and a modest improvement in German exports were offset by higher imports, while Allianz and Munich Re came under pressure after disappointing results.

DAX consolidates above 26,000 as German economic recovery gains momentum

The DAX is consolidating above the 26,000-point mark after its recent record-breaking advance. Stronger-than-expected German industrial orders added to evidence that the recovery is gaining momentum, while earnings from Siemens, Deutsche Telekom and Commerzbank remain in focus.