The DAX index rose 1.04% to trade at 26,941.18. This advance follows Wednesday gains, when European equities climbed as technology shares and corporate earnings supported markets despite uncertainty surrounding US interest-rate expectations. Technology shares contributed to the advance after CoreWeave posted revenue above expectations, offering further details on AI infrastructure spending.
The index has traded between 26,895.39 and 26,999.16 since the session opened. A break above 26,999.16 would place the index above its session high, while it already sits higher than any close from the past 283 sessions. A loss of 26,895.39 would take the index below its session low, with the previous session close at 26,662.80.
In cross-asset markets, the US Dollar Index slipped 0.03% to 102.88. US Treasury yields stood at 4.98% for the 10-year and 4.73% for the 2-year on November 10. Prediction markets assign an 86% probability to a 25 basis point Fed rate hike in December, up from 85% previously.
Earnings reports bolstered stocks even as investors weighed how rising borrowing costs might affect valuations. BE Semiconductor and ASM International each advanced more than 4%, reflecting investor interest in companies supplying equipment for semiconductor manufacturing. These gains occurred despite investors reassessing Federal Reserve policy after US inflation data exceeded expectations.
Some bond market participants considered the possibility of a larger 50-basis-point increase, which contributed to movements in government bond yields. Higher borrowing costs can influence equity valuations, particularly for firms whose prices depend heavily on future earnings growth. ECB President Christine Lagarde speaks at 19:30 UTC on Thursday, November 12.
Sources: ForTraders quotes, US Treasury, Kalshi, Yahoo Finance quotes, ForTraders economic calendar.
