Overview
- As of July 1 the DAX is trading around 25,000 with little momentum because weak Asian cues and continued uncertainty over US–Iran skirmishes are keeping investors cautious.
- US and many Asian indexes are powering ahead on a sustained AI and chip-led rally, with the Nasdaq and benchmarks in Japan and South Korea posting much larger year-to-date gains than the DAX.
- The US and Iran have signalled a temporary halt to mutual attacks and a willingness to negotiate but occasional strikes continue, keeping oil prices elevated near $72–73 per barrel and feeding volatility into energy names.
- Deutsche Bank analysts estimate a large year-on-year profit jump for European energy companies for the quarter, which has helped index returns but may be cyclical and uneven across other sectors.
- Investors are focused on June inflation prints and central-bank remarks at Sintra, where comments from ECB and Fed officials — including Kevin Warsh — could alter rate expectations and determine near-term market direction.