Dax 30, Closes Week at Record Highs, S&P 500 Near ATH Too

The major stock indices closed higher on Friday, and higher for the week too. the German DAX 30, France CAC 40, and UK FTSE 100 are all closing and record high levels. Expectations for lower interest rates by central banks and better data from China helped improve risk sentiment.

DAX 30 Chart Daily – Buyers Back in Charge

The DAX daily chart has resumed the bullish trend, with the price surpassing the moving averages (MAs) after finding support at the 50-day SMA (yellow) on several occasions. This week’s candlestick patterns suggest strong bullish momentum, which indicated the potential for a new record high, which was put in place toward the end of the week. The recent break above the 20-day moving average signaled increased buying interest.

The DAX index surged by 1% on Thursday and an additional 0.8% on Friday, culminating the week at an all-time high of 18,687. Investor sentiment was buoyed by positive market developments and optimism surrounding the European Central Bank’s (ECB) monetary policy. On Friday, attention was particularly focused on the ECB’s monetary policy meeting minutes, which hinted at potential future interest rate cuts.

ECB Executive Board members also confirmed this outlook, contributing to market optimism which sent risk assets such as stock markets higher. Zalando, the German online fashion retailer, emerged as the top performer on the DAX index on Friday once again. Its share price saw a notable increase of 2.5%, reflecting positive investor sentiment towards the company’s prospects.

European Stock Indices Daily Close

• German DAX, Rose 70.24 points or 0.38% at 18756.85
• France CAC rose 26.70 points or 0.33% at 8214.36
• UK FTSE 100 rose 56.85 points or 0.68% at 8438.21
• Spain’s Ibex rose 55.40 points or 0.50% at 11105.49
• Italy’s FTSE MIB rose 318.05 points or 0.93% at 34657.36

European Stock Indices Daily Close Weekly Close

• German DAX rose 4.20% its largest gain since November 2023
• France CAC rose 3.29%, its largest gain since January 22, 2024
• UK FTSE 100 rose 2.68%
• Spain’s Ibex rose 2.31%
• Italy’s FTSE MIB rose 3.06%

S&P 500 Live Chart

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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