Tuesday proved to be another excellent day for investors in the German Stock Index (DAX), with bears facing significant headwinds in July. The index surged past 24,200 points, closing with a 0.55% gain at 24,206.91 points.
EU Tariff Relief Fuels DAX Rally
The positive sentiment in Europe, driven by the absence of new US tariffs and another deadline extension from the United States, contributed to the DAX's strong performance. This reinforces July's reputation as a statistically strong month for the market, especially when supported by positive fundamental news.
Commerzbank Soars, Leads DAX Gainers
Individual stocks largely benefited from this bullish mood, with Commerzbank shares leading the charge, closing up an impressive 4.8%. Bayer AG followed with a 3.9% gain, and Porsche secured a 3.5% increase. Commerzbank has already seen over a 100% rise this year, indicating a remarkably stable uptrend.
DAX Defies US Market Slump, All-Time High in Sight
Despite a sluggish day for US markets, with the Dow Jones Index dropping 0.3% and the S&P and NASDAQ breaking even, the DAX continues to show remarkable strength. Chart analysis suggests a new all-time high is imminent. Apart from the divergence from US markets, there's currently little to suggest a downturn for the DAX.
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