German Stocks Bounce Back: DAX Breaks Losing Streak on Nvidia Optimism

German equities staged a solid comeback on Thursday, snapping a rough five-day losing streak as Nvidia’s better-than-expected earnings and guidance eased recession fears around AI valuations.

Market Snapshot:

• DAX climbed 0.86% to 23,402.65, hitting 23,454.15 intraday (+198.51 points)
• Key gainers: Rheinmetall surged 5.4%, Siemens Energy up 5.1%, Qiagen +2.75%
• Defensive plays also rallied: Allianz, Fresenius, and E.ON posted strong gains
• Drag: Automakers under pressure (VW -0.7%, Mercedes-Benz -1.4%, BMW flat)

What’s Moving It: Nvidia’s solid forward guidance lit a fire under AI-sensitive stocks. Meanwhile, fresh economic data painted a mixed picture—Germany’s producer prices fell 1.8% YoY in October (8th consecutive monthly drop), slightly beating the doomier 1.9% forecast. Eurozone construction output, though, contracted 0.5% in September after a 0.2% slide in August.

Eyes on: U.S. jobs data coming—traders parsing every word for clues on the Fed’s next rate move. The earnings relief rally could face headwinds if labor numbers disappoint.

Wild Card: Nordex (wind turbines) popped 2% on an Ireland turbine order—small wins in the green energy space still catching bids.