Stock market: The Dax remains at 24,000 points

Sometimes you just want to pause. Initially, the announcements regarding US tariffs were valid for a few weeks, then a few days, and now we're down to hours. The stock market is increasingly trying to ignore this because it's become completely pointless to estimate possible consequences.

Despite all the back and forth, the markets remained at a high level throughout the week. For the DAX, with a fluctuation range of just a few hundred points, it was the most stable in a long time, including a record high of 24,320 points on Wednesday.

The strange mix of robust business and anxious anticipation is also reflected in the supposedly "world's most important stock." Chip developer Nvidia exceeded expectations with its quarterly figures, but the price jump was quickly corrected. Revenue rose by almost 70 percent year-on-year, and profits by a good 25 percent.

This put one of the biggest stock market concerns of the week to rest on Wednesday evening. Although the hype surrounding the stock has died down in recent months, Nvidia remains the key indicator for developments in the AI ​​sector and thus the entire tech industry.

At the same time, Nvidia CEO Jensen Huang is even more dependent on political fortunes than others. The White House influences his business not only through tariffs, but also directly through export restrictions to China. And when it comes to these security-related issues, "Taco" won't be far behind.

Yes, there's a new phrase to learn. It stands for "Trump always chickens out." That's the impression one has gotten so far with tariff policy. But who wants to bet on it? The person addressed reacted, as expected, with irritation to this label. Perhaps he now feels compelled to prove the opposite.

Stefan Winter is the senior business editor at RND. He writes weekly about the stock market, financial markets, the rise and fall of share prices—and the companies behind them.