FRANKFURT (dpa-AFX) - The DAX's volatile streak continues: following a significant recovery through Tuesday midday, the German benchmark index is expected to retreat on Wednesday, weighed down by weak Asian cues. Approximately three hours before the Xetra open, broker IG saw the DAX trading 0.7 percent lower at 24,224 points. The previous day, the DAX had climbed to 24,690 points by noon on hopes of de-escalation in the Middle East, effectively closing a two-week-old chart gap. However, momentum faded thereafter, and the gains narrowed significantly by the closing bell.
In the U.S., the pullback of the S&P 500 and Nasdaq 100 from their recent AI-driven record highs extended slightly. Investors are now anxiously awaiting results from AI giant Nvidia, scheduled for release after the market close tonight. 'If Nvidia disappoints, things could get uncomfortable,' said market expert Maximilian Wienke from broker Etoro. He noted that Nvidia is no longer just a typical company, but the central pacemaker of the global AI boom.
Expectations remain sky-high. Last week, Nvidia shares hit a record high alongside the Nasdaq - following a 44 percent rally from the year's lows seen in late March./ag/zb
