Germany’s DAX traded in negative territory on Wednesday, down 0.2% to around 24,280, halting two consecutive sessions of gains. The market is watching the earnings season unfold, which is now in full swing on both sides of the Atlantic, as investors look for clues about the broader economic outlook. Infineon Technologies fell 3%, leading losses among equities, as it followed broader European declines triggered by a disappointing update from Texas Instruments. Adidas followed suit, down over 2%, despite reporting strong preliminary Q3 results and higher guidance, after JPMorgan slightly lowered its price target to €234 from €236, citing FX headwinds. SAP (-1%) also fell ahead of its earnings release. On the upside, defense stocks stood out, with Renk (+4.7%), Rheinmetall (+2.9%), and Hensoldt (+1.8%) rising, as President Donald Trump’s planned swift meeting with Russian President Vladimir Putin was put on hold.
