Convincing business figures from AI giant Nvidia US67066G1040 and a possible turnaround in the US tariff conflict could further fuel the record run of the Dax DE0008469008 on Thursday.

About an hour before the start of trading, the X-Dax DE000A0C4CA0 signaled a 1.2 percent gain to 24,319 points for Germany's leading index. This would bring the DAX back closer to its record high of almost 24,326 points reached the day before, after profit-taking had begun.

However, due to the Ascension Day holiday, trading volume is likely to be lower than usual. The EuroStoxx 50 EU0009658145 index is expected to post similar gains to the DAX.

US President Donald Trump is facing headwinds over his tariff policy: A US federal court denied the US president the authority to impose far-reaching tariffs under an emergency powers law. The tariffs in question would be "repealed and their application permanently prohibited," according to the decision of the court in New York, which is responsible for international trade.

This puts a stop to Trump's aggressive trade policy, which had shaken financial markets worldwide and repeatedly caused unrest, at least for the time being. However, his administration immediately appealed the decision. The final decision has not yet been made. It is not out of the question that an appeals court could reinstate the tariffs pending a final decision.

The shares of the sports fashion companies Adidas DE000A1EWWW0 and Puma DE0006969603 were among those who benefited from the possible turnaround in the tariff dispute before trading on Thursday morning.

Investors had recently been quite nervous about Nvidia, as the US tech giant's financial figures have a significant impact on market sentiment – ​​far beyond the sector itself. However, Nvidia brushed aside these concerns with its rapid revenue growth in the first quarter.

"The AI ​​king has delivered amid the trade war," wrote expert Stephen Innes of SPI Asset Management. The company has delivered – namely, confirmation that the reigning AI chip king remains resilient, agile, and the undisputed cornerstone of the AI ​​megatrend despite the intensifying geopolitical storms.

In addition to Nvidia, business figures from SAP DE0007164600 industry peer Salesforce US79466L3024 could also have a positive impact on the tech industry. Salesforce is surprisingly optimistic about the current fiscal year thanks to AI optimism.

In the DAX, price gains for the software group SAP and the chip manufacturer Infineon DE0006231004 were also evident in the morning pre-market trading on the Tradegate trading platform. In the MDax DE0008467416, shares of the mechanical engineering company for chip manufacturers, Aixtron DE000A0WMPJ6, are likely to be in demand.

Defense stocks also remain in focus. While shares of tank transmission manufacturer Renk (DE000RENK730) set another record, shares of Rheinmetall (DE0007030009) initially remained below their Xetra record high in premarket trading.

Shares of Heidelberg Materials DE0006047004 traded slightly below the Xetra closing price of €178.65. According to sources, major shareholder Spohn Cement Beteiligungen sold 1.5 million shares of the building materials company. The price was €175 per share, the Blomberg news agency reported late Wednesday evening, citing documents at its disposal. This means that the investment vehicle of German entrepreneur Ludwig Merckle still holds a 27.6 percent stake.