DAX oscillates around 25,000 as US earnings season gets underway
The DAX remains anchored around the 25,000-point level as Middle East risks, higher Brent crude prices and the start of US earnings season shape sentiment. Investors are also watching US inflation data, Federal Reserve testimony and Wednesday's Beige Book.
written by
Andreas Lipkow
Chief Market Analyst
14 Jul 2026, 08:25
The 25,000 level remains the key battleground
The 25,000-point level remains the key battleground for the DAX as trading gets underway today. Investors continue to watch developments in the Middle East with increasing scepticism, while hopes for a near-term resolution to the conflict continue to fade.
The latest reports that the United States is considering imposing a 20% levy on cargo transiting the Strait of Hormuz have added further upward pressure to Brent crude and broader oil prices. As a result, the strait is increasingly being viewed as a major geopolitical bottleneck for global trade. Assessing the potential impact of these developments on the global economy has become increasingly difficult.
Asian markets remain under pressure
Asian equity markets have already reacted with another round of declines. Chinese markets were the notable exception, managing to outperform following slightly better-than-expected trade data.
In particular, robust exports of AI-related technologies provided support for equities on the mainland, helping Chinese benchmarks distance themselves from the broader risk-off tone across the region.
US earnings and Fed signals move into focus
Today's trading session is expected to be eventful. Five major US banks are due to kick off the US earnings season with their quarterly results, giving investors an early read on credit conditions, investment-banking activity and the health of the broader US economy.
The US calendar is also busy. Federal Reserve Chair Kevin Warsh is scheduled to appear before the House Financial Services Committee today, Tuesday, 14 July. Investors will then turn to the US Producer Price Index, Warsh's Senate Banking Committee appearance and the Federal Reserve's Beige Book on Wednesday, 15 July, for fresh insight into inflation pressure and regional economic conditions.
DAX expected to remain range-bound
Against this backdrop, the DAX is likely to remain anchored around the psychologically important 25,000-point level. The combination of geopolitical risk, rising energy prices and the start of US earnings season is likely to keep investors cautious rather than encourage a decisive breakout.
From a technical perspective, the index is expected to trade within a relatively narrow range between 24,850 and 25,050 points during today's session.
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DAX slips below 25,000 as geopolitical risk returns to the forefront
The DAX has slipped back below 25,000 as renewed US-Iran tensions, higher Brent crude prices and weaker Asian equities weigh on sentiment. With few major macro releases due today, Middle East headlines and the start of the US earnings season are likely to set the tone.
FTSE 100 opens the week on a softer note as Middle East tensions weigh on sentiment
The FTSE 100 is trading around 10,505 as renewed US-Iran tensions lift energy prices, revive inflation concerns and keep UK equities cautious. TSMC's record quarterly results are helping technology-related stocks, while higher crude prices support BP and Shell.
Brent oil extends rebound after holding key support
Brent crude has rebounded sharply from support around $70.50 and moved into the mid-$80s as geopolitical risk returns to energy markets. Momentum indicators have improved, but the market now needs to hold above the former $82.50 resistance area to keep the bullish setup intact.