The AI Trade makes a comeback and lifts Wall Street back into the positive ahead of the eagerly awaited NVIDIA figures, while Brent oil prices drop below 90 USD after initial signs of easing in the Iran conflict – the software sector leaves the SaaSpocalypse behind and rallies nearly 40%, while NVIDIA counters skeptics with price increases of over 15% and a leap into space – the DAX secures itself above 26,000 points after strong Ifo data

USA & MACRO-ENVIRONMENT Wall Street finds its footing at the start of the week The broad S&P 500 rises by +0.19%, the tech-heavy Nasdaq 100 climbs by +0.14%, and a key indicator for semiconductor giants sees a significant uptrend. The driving force is the return of the AI trade: unexpectedly, NVIDIA ends its longest losing streak since 2022 with a recovery – the stock had previously dropped for seven consecutive trading days – thereby providing tailwinds for the entire chip industry just before highly anticipated quarterly results...