Following the Bundestag elections and new customs concerns, the DAX could make another run towards the 23,000-point mark in the middle of the week. Even though investors were initially relieved by the results of the Bundestag elections in the first instance, a political deadlock could tend to create uncertainty. Last but not least, the trade dispute initiated by Donald Trump is also likely to attract attention. Investors are also eagerly awaiting today's figures from AI chip manufacturer NVIDIA.
DAX Chart
Source: TradingView
Relief after Bundestag elections - investors tick off political stock markets faster than expected
According to preliminary results, the CDU/CSU won the Bundestag elections with 28.52%, followed by the AfD (20.8%), the SPD (16.41%) and the Greens (11.61%). Investors are now waiting for the results of the coalition negotiations. From an investor's perspective, a swift formation of a government is likely to be desirable.
Trade disputes remain a sword of Damocles for the stock markets - Donald Trump relies on punitive tariffs against Mexico and Canada
The trade disputes between the USA and key economic partners continue to be a topic of conversation. At the beginning of the week, Donald Trump confirmed his planned tariffs against Mexico and Canada of 25% on all goods. He had already announced these tariffs shortly after taking office, but then initially suspended them for a month.
Focus on numerous US economic data on Thursday
From an economic calendar perspective, Thursday should be particularly exciting with important US economic data. Gross domestic product (annualized) is expected at 14:30. In addition to core personal consumption expenditures, the weekly initial claims for US unemployment benefits and new orders for durable goods will also be published.
German inflation data and the "PCE deflator" for personal consumption expenditure should provide important impetus on Friday
Friday, meanwhile, will be dominated by the publication of various price data. In Germany, the focus will be on the preliminary inflation data for the Federal Republic of Germany at 14:00.
At 14:30, investors should keep an eye on the so-called PCE deflator for personal consumption expenditure, which could provide important indications of inflation.
NVIDIA figures highly anticipated after DeepSeek shock
Today after the close of the US stock market, investors are awaiting NVIDIA's business figures for the past quarter. Investors are likely to pay particular attention to the outlook, after recently worrying about a stronger competitor called DeepSeek from China.
NVIDIA Chart
Source: TradingView
