FX.co ★ DAX Cautiously Higher

On Wednesday, Frankfurt's DAX index showed a modest increase, surpassing the 24,000 mark in a session marked by cautious trading. Investors were primarily focused on additional details regarding a trade agreement between the United States and China. Following two days of discussions in London, the nations announced a "general framework," building on advancements from earlier negotiations in Geneva in mid-May. Those talks had faced disruptions due to conflicts concerning Chinese rare earth elements and U.S. technology restrictions. Meanwhile, the European Union indicated that its trade discussions with Washington might extend beyond the designated deadline of July 9. Market participants are now eagerly awaiting forthcoming U.S. inflation data to gain insights into the Federal Reserve's policy direction. On the corporate front, Bayer performed strongly, with its stock appreciating over 2% following an upgrade to 'Buy' from 'Hold' by both HSBC and Kepler Cheuvreux. Defense stocks exhibited solid gains, and the basic resources, banking, technology, and automotive sectors also experienced upward movement. Conversely, the retail sector lagged, as shares of Zalando, Puma, and Adidas declined in response to a significant drop in Inditex shares after the company released disappointing sales results.