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DAX set to open higher today

Yesterday the DAX was the worst performing major European stock market index. In fact, it was the only one of the three to end the session in the red, when it closed 29 points lower, at 15,070. Earlier in the day the index had risen to as high as 15,174. The futures price action overnight and this morning has been relatively subdued, but the opening outlook right now is positive. The better German factory orders data might have helped that too. The lower oil price should be more supportive as well, but there is not really much evidence of that so far this week. The index future is just now pricing the reopening at around 15,115

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