DAX Reclaims 26,000 as Iran Fears Ease

US President Donald Trump’s comments that the confrontation with Iran may not drag on for long briefly calmed investors, though traders remain wary of further spikes in crude and inflation expectations. The broader market tone also improved after Wall Street opened in the green, with the Dow Jones up 0.47% and the Nasdaq Composite 0.45% firmer at the open.

In Asia, sentiment was steadier after a bruising selloff, while European blue chips gained 0.32% and the TecDAX added 0.4%. The backdrop remains fragile: investors are still weighing the risk that higher energy costs could feed into inflation, keep bond yields elevated and delay any easing in financial conditions.

Broadcom was a key support for the technology complex after tripling sales and delivering an outlook that, while solid, fell short of some of the market’s loftier hopes. The stock’s reaction matters beyond one chip maker because semiconductor demand remains a read-through for AI spending, cloud capex and the durability of the tech-led earnings cycle.

That mix leaves the DAX and its export-heavy constituents exposed to both geopolitical swings and rate expectations. Defense shares, gold, Siemens Energy, Deutsche Telekom, Commerzbank, Berkshire Hathaway, Bitcoin, Palantir and BASF all remained in focus as investors rotated among perceived havens, cyclicals and rate-sensitive names ahead of Friday’s US jobs report.

The payrolls data now loom as the next major catalyst, with traders looking for clues on whether the Fed can stay patient or will be pushed toward a more restrictive stance if oil-driven inflation pressures persist.