DAX Continues Record Chase Despite Weak Economic Data

The German stock index DAX continued its record-breaking streak unabated on Friday, setting a benchmark for the seventh consecutive day. A novelty of this sort hasn't been seen since 2015, as emphasized by stock market expert Thomas Altmann from QC Partners. Despite disappointing inflation figures in Europe and less dynamic economic data from the USA, the investors' buying mood only slightly lost momentum. In the end, the DAX closed with a slight increase of 0.32 percent at 17,735.07 points, booking a weekly gain of 1.8 percent. Meanwhile, market analysts like Andreas Lipkow are observing the first signs of potential fatigue in the course's momentum. Experts at Landesbank Helaba also advise caution, pointing to technical indicators that could classify the DAX as overbought - a signal for potential correction risk. The MDax, which reflects the development of medium-sized companies, showed more resilience on Friday with an increase of 1.15 percent and closed just below its daily high at 26,120.64 points, although it had previously lagged behind the DAX. On the corporate front, the spotlight was primarily on the automotive industry and their latest business figures. Volkswagen preferred shares had to absorb a setback of nearly five percent due to high investment expenses planned for this year, which clouded investor sentiment. In contrast, positive signals came from Daimler Truck: an unexpectedly optimistic forecast sent the share soaring by more than 18 percent, making it the top performer in the DAX. Sixt, buoyed by positive quarterly results, also gained and exceeded the MDax result with an appreciation of 2.1 percent.