Earnings reports help push DAX futures markedly lower this morning

The DAX was best performing major European stock market index yesterday, but it was a close call to the finishing post, with the CAC 40 running a very close second. The DAX gained 1.21% and the CAC closed 1.20% higher. The rebound in the DAX saw it reach a session high at 19,546, but could not hold all of that gain into the close. The index ended the day, 233 points higher, at 19,448. However, this morning the scene is rather different. The DAX futures are firmly in the red ahead of the opening and the latest Q3 results from Bayer, released here earlier have not helped. Previous reports here noted how the volatility between 19k and 19.5k could serve as a warning that exhaustion has now kicked in for the index and this morning nothing has yet emerged to change that view. The DAX is right now priced to reopen a little later on at around 19,275