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DAX backs away from a new record

Earlier this afternoon the German DAX did manage to forge out a new record, when it rose to 17,452. That just less than 10 points above the previous record and it has since backed off slightly. That modest relapse comes just ahead of the US stock market opening, so perhaps the DAX does not want to get ahead of itself in case the US markets rather underwhelm on the opening. We shall soon find out about that. Meantime, the DAX has backed off to around 17,425, so it is still within striking distance of reaching yet new heights this afternoon, provided the US markets allow for that. The DAX is currently trading at 17,430 

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