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.
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