As noted in the previous update, the DAX led the European gains yesterday, rising by 1.37% on the day. The index was led higher by leading gains in Siemens and Infineon. The index reached a rebound high at 18,307 and later closed 260 points higher, at 19,263. However, the lower closes in the US last night and a curbing of enthusiasm across the DAX futures this morning are indicating a lower opening today. Currently the index is priced to reopen around 19,135 and it remains to be seen, if the DAX can rebound when live trading resumes and then build on the gains it amassed yesterday