Chart of the day: Is the DAX ready for another record high?
The DAX (GER30) is trading at all-time-high levels and an impressive industrial production print tonight could be enough to make another record high.
Stocks around the world surged yesterday as coronavirus fears faded and China announced the suspension of half its tariffs on US imports. The GER30 advanced for the fourth day in a row despite a poor factory orders print for December (-2.1% vs 0.6% expected).
German December industrial production is expected to print a 0.2% decrease tonight (18:30 AEDT) after a 1.1% increase for November. An upwards surprise here could be the steam German stocks need to post another record high.
Asian equities traded slightly lower today, in part due to a reminder the coronavirus continues to spread, with a cruise ship off Japan reporting more than 40 confirmed cases. Following trend, the GER30 has slid 40 points in the after-hours market, could the weakness offer the bulls an entry point to have another run at new highs?
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