German equities are poised for a modest advance on Thursday, with Dax futures indicating a 0.3% gain to 26,367 points one hour before the open. The move would still leave the index roughly 100 points below its prior session high, which was just over 26,574 points and near record territory.
The pre-market optimism follows strong quarterly results from Nvidia, which reported earnings growth that surpassed estimates. The chip giant's outlook remains robust, driven by sustained demand for artificial intelligence infrastructure and its upcoming Rubin processor architecture. Nvidia's shares surged in after-hours trading, while Salesforce also advanced after posting better-than-expected results, citing AI-driven growth as a key driver.
The broader tech sector received a boost, with chipmakers in Asia also gaining overnight. Marvell Technology is scheduled to release earnings later in the session, potentially reinforcing the current AI investment cycle.
Attention now shifts to the Federal Reserve's annual symposium in Jackson Hole, where remarks by Fed Governor Kevin Warsh on Friday will be closely watched. The focus comes as the personal consumption expenditures price index, the Fed's preferred inflation gauge, remained elevated mid-week. Analysts at Consors Bank noted that a year-end rate hike by the U.S. central bank remains a possibility.
In corporate news, Siemens Energy shares rose 1.4% in pre-market trading, while SAP advanced 2% after a weak session on Wednesday. Infineon and Aixtron gained 2.2% and 3.4%, respectively, on Tradegate. UBS upgraded Bilfinger to 'Buy,' citing improved margin expectations and a positive order intake, with the stock up 3.7%. Asta Energy, a recent SDAX entrant, climbed 5.5% following strong half-year results and an upwardly revised outlook, supported by copper demand from the energy sector.
Delivery Hero raised its full-year guidance, lifting its shares 1% in pre-market trade. Fielmann also advanced after reporting second-quarter figures.
The mixed macro backdrop—marked by persistent inflation concerns—continues to shape investor sentiment as markets await further clarity from central bank policy signals.
