The DAX futures (DE40) entered Thursday trading with a stellar performance, advancing 1% and outperforming all of its European peers (EU50: +0.25%). The overall market sentiment turned positive after yesterday’s strong employment report in the U.S., but the exceptional gains in the German blue chip index stand mainly on the post-earnings euphoria on its heaviest stocks.
The DE40 confirms a strong bullish recovery, surging past the 24-day EMA and breaking the key 61.8% Fibonacci resistance at 25,125. With the RSI rising to 58.8, momentum remains positive, targeting the next hurdle at the 78.6% retracement level (25,326). Holding above the 25,000 zone is crucial for a retest of the recent highs. Source: xStation5
What is driving DE40 today?
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Rebound in risk appetite: Global stock indices have progressively recovered from last week's tech sell-off, which was triggered by mixed reactions to record Big Tech CAPEX and fears of AI-led disruption. As investors digested the massive figures from industry leaders like Alphabet and Amazon, attention shifted to labor market data as the ultimate test of the US economy's health. Despite a concerning ADP report (22K vs 45K expected), yesterday’s NFP print delivered a significant upside surprise (130K vs 70K expected). This eased fears of a cooling labor market and provided a fresh boost to market sentiment.
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Siemens jumps on data center demand: Germany’s most valuable company is currently up roughly 6.8% after raising its full-year EPS outlook to €10.70–11.10. Q1 industrial profit rose 15% to €2.9 billion, beating forecasts, while sales increased 4% to €19.14 billion and orders grew 7%. Growth was underpinned by surging AI-driven data center demand—where revenue jumped by over a third—supporting confidence for the current fiscal year.
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SAP halts further sell-off: The European software leader has lost about 15% year-to-date due to disappointing cloud backlogs, costing it the title of Germany’s largest company by market cap (falling behind Siemens, now at approx. €236.5bn). Nevertheless, shares appear to have stabilized around the €170 mark, turning green today despite a 5% drop yesterday and initial losses in early trading.
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Deutsche Telekom up on US earnings: Germany’s third-largest company by market cap is outperforming many DAX peers as well (+2.8%) after its US subsidiary, T-Mobile, posted strong Q4 results. Subscriber growth (962,000 postpaid additions, the highest among major U.S. carriers), robust revenue from premium bundled plans, and long-term guidance for 2026–2027 outweighed slightly lower-than-expected free cash flow. AI network innovations and continued 5G investments further support optimism despite intense competitor promotions.
Daily summary: Silver plunges 9% π¨Indices, crypto and precious metals under pressure
US100 loses 1.5% π
π¨Gold slumps 3% amid markets preparing for Chinese Lunar Year pause
Cocoa falls 2.5% to the lowest level since October 2023 π
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