DAX set to extend record rally
The DAX is set to extend its record-breaking rally, with the German benchmark expected to open around 26,400 points.
Positive leads from both Asian markets and Wall Street continue to underpin sentiment. Despite disappointing earnings from US chipmaker AMD, investors remain eager buyers of technology stocks, leaving the DAX on course to continue its upward march.
Palantir overshadows AMD and SpaceX disappointment
Another closely watched newcomer, SpaceX, also failed to impress with its latest financial results.
However, these disappointments have been overshadowed by the strong earnings report from Palantir, which reinforced investors' conviction that the artificial intelligence investment cycle remains intact and that the monetisation of substantial AI spending is only just beginning.
Infineon under pressure after AMD weakness
The earnings season remains in full swing. Within the DAX, Fresenius, Infineon and DHL Group have already reported quarterly results.
Infineon came under pressure following the weakness in rival AMD, while its own earnings release failed to provide a meaningful positive catalyst.
Fresenius guidance rewarded by investors
Fresenius, by contrast, delivered a strong set of results that was well received by investors.
Core earnings per share increased by 14%, and management now expects EPS growth of 10-15% going forward. In addition, the company raised its outlook for 2026, precisely the type of forward guidance investors are rewarding in the current market environment. As a result, Fresenius is among the strongest performers in pre-market trading.
