Market report: breathing space after the DAX record

Market report Slight price decline in sight Breathing space after the DAX record As of: November 13, 2026 • 7:35 a.m

After another record high of over 27,000 points, the DAX is running out of steam at the end of the week. The balance of the DAX reporting season is positive; fresh impulses are now needed.

The broker IG Markets estimates the leading German index to be down 0.2 percent to 26,725 points before the opening of Xetra trading. Yesterday the DAX ended trading with an increase of 0.4 percent to 26,771 points. This was the fourth day in a row that he increased.

During the course of the day, a new DAX record was broken: the leading index climbed over 27,000 points for the first time - peaking at 27,001 points. Since the beginning of the year, the German leading index has increased by around ten percent.

Despite the crisis at the technology group Nvidia, the mood on the German stock market remained positive. Falling oil prices and strong corporate balance sheets are providing a boost. The management consultancy EY draws a first preliminary balance of the reporting season. It is positive for the DAX companies.

Germany's stock market heavyweights earned around 38 billion euros in the third quarter. Despite the weakness of car manufacturers, this is an increase of 4.6 percent.

Growth is now based on several pillars: energy, infrastructure, defense and technology, these are developing dynamically, explains Henrik Ahlers, Chairman of the EY Management Board. Above all, there is one downside: "The auto industry remains under considerable pressure and clouds the overall picture."

Deutsche Telekom reported the highest operating quarterly profit of the DAX companies at around 7.4 billion euros. It is followed by Allianz with 4.7 billion euros and Siemens with 3.3 billion euros. 27 companies increased their profits, ten saw their operating profit decline.

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The picture looks different in the USA. Concerns about the AI ​​sector have once again caused price losses on the US stock exchanges. The US standard value index Dow Jones ended trading with a loss of 0.4 percent at 52,297 points. The broad S&P 500 lost 0.4 percent to 7,592 points, and the technology-heavy Nasdaq fell 0.4 percent to 25,366 points.

“Right now the market is selling AI and technology stocks and buying safe assets,” said Jed Ellerbroek, portfolio manager at Argent Capital Management. However, he expects this trend to reverse again.

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The turbulence surrounding Nvidia in particular continues to be a burden. Nvidia shares fell 4.3 percent to around $166. At the beginning of October they cost just under $240. The chip company named CFO Colette Kress as interim chief executive after Huang resigned amid allegations of extramarital affairs.

Asian stock markets have stabilized after a turbulent week surrounding the resignation of Nvidia boss Huang. On the Tokyo stock exchange, the Nikkei index, which includes 225 stocks, rose by 0.9 percent to 61,362.93 points.

In China, the Shanghai Stock Exchange gained 0.2 percent to 3,663 points, while the index of the most important companies in Shanghai and Shenzhen stagnated at 4,042.05 points. MSCI's broad index of Asia-Pacific stocks outside Japan rose 0.3 percent, and in South Korea the Kospi rose 2.4 percent.

This topic in the program: tagesschau.de | Stock market 6.45 a.m.: DAX outlook, balance of the DAX reporting season | 11/13/26 | 6:38am