The Dax started the trading day cautiously on Friday morning. By 9:30 am, the leading index was calculated at around 21,930 points, 0.1 percent above the closing level of the previous day.
“‘The Dax shows investors in these days that it’s not politics that moves the market, but the profits of companies,’ said Jochen Stanzl, chief market analyst at CMC Markets. ‘Despite this, many an investor may have felt like they were being pushed towards a new record high yesterday. Many wanted perhaps not to get there because they still had to digest the fear of impending tariffs. ‘Seize the day to win’ – that seems to be the motto, as investors are apparently buying now to deal with Trump later.'”
“For about half of the price gains yesterday, a trio of Siemens, Siemens Energy and Siemens Healthineers was responsible. The latter showed in their quarterly results that they can grow despite a weak China business, thanks to the clever use of AI in MRI machines, now pushing Merck out of seventh place among the Dax companies with the largest market capitalization.”
“A further sixth of the Dax’s upward movement yesterday went to SAP, which, along with stocks like Palantir, is surfing on a breathtaking AI wave this week. SAP is using AI so intelligently that, by now, 80 percent of frequently used tasks can be automated.”
“The stock’s fantasy seems unbroken. Investors are now eagerly waiting for the ‘Business Unleashed’ event in a week, at which SAP will reveal more about its recently presented AI innovations. ‘If companies like SAP, Palantir, or Siemens Healthineers show that they can use AI to grow and generate profits, then investors will also take a chance in a roughening market climate.'”
“On Friday, the labor market data from the United States will be in the focus. Following the ADP data on Wednesday and the initial jobless claims on Thursday, the NFP report is expected to show a labor market that Federal Reserve Chairman Jerome Powell recently described as ‘quite stable.’ ‘Anything else would be a surprise. It seems that this week will end like the last one: with a smile on the faces of those who boldly bought stocks despite falling prices. ‘Buy the Dip’ remains the order of the day,’ said Stanzl.”
“The European common currency was a bit stronger on Friday morning: one euro cost around 1.0392 US dollars and one dollar was worth around 0.9623 euros.