With the record in sight, the Dax DE0008469008 is unlikely to come any closer to its record high of 23,476 points on Tuesday.

Just under an hour before the start of trading on Xetra, the X-Dax DE000A0C4CA0 signaled a loss of 0.15 percent to 23,309 points. The Euroregion's leading index, the EuroStoxx 50 EU0009658145, is expected to close at a similar decline.

Investors continue to await initial reports of success in the global negotiations over the import tariffs imposed by US President Donald Trump. In New York, the leading index Dow Jones Industrial US2605661048 had broken its nine-day winning streak the previous day. The DAX has also now snapped a similarly long winning streak.

Commerzbank wrote this morning after a scenario analysis that the probability is highest that Trump will ultimately live up to his reputation as a "dealmaker." "Accordingly, significant setbacks in risk assets should turn out to be an investment opportunity." Even in this scenario, however, there are still extensive residual risks regarding the robustness of the US economy.

In addition to Trump's tariff policy, the election of Friedrich Merz as the new German Chancellor will take center stage on Tuesday. His extensive investment package is considered a key driver of the DAX's ability to set new records these days.

In addition, the reporting season for German companies is in full swing, including figures from DAX-listed companies Zalando DE000ZAL1111, Fresenius Medical Care (FMC) DE0005785802, Continental DE0005439004, and MTU DE000A0D9PT0. This series is complemented by many results from the second and third trading series.

Shares of online fashion retailer Zalando gained more than 4 percent on Tradegate before trading on Xetra. At first glance, the quarterly figures appear better than expected, according to one trader. Continental gained more than 1 percent. Business at the automotive supplier company is performing well. Rheinmetall DE0007030009 continued to rise on Tradegate with comparatively high trading volumes and is expected to set record prices again on Tuesday in the wake of the arms boom.

Things were different for dialysis specialist FMC, whose share price fell by 1.5 percent on Tradegate. Operating profit was lower than expected, according to a stock market analyst.

Hugo Boss DE000A1PHFF7 stood out on Tradegate with a 4 percent gain. The fashion group delivered impressive quarterly results. Meanwhile, commercial kitchen equipment supplier Rational DE0007010803 saw weaker growth than expected, with a pre-market loss of 3.3 percent. Two other MDax DE0008467416 stocks were on the losing side after their quarterly results. Evotec slumped by over 8 percent, while Teamviewer fell by 4.5 percent.