法兰克福DAX指数周五上涨超过0.5%，收于23900点附近，为连续第二天创纪录收盘创造了势头。市场情绪继续受到全球贸易紧张局势可能正在缓解的谨慎乐观情绪的支撑。欧盟官员周四表示，欧盟正在推动与美国达成一项比目前与英国和中国谈判的协议更全面的关税削减协议，这增加了积极的基调，并补充说，讨论正在取得积极进展。在企业方面，医疗保健类股领涨，拜耳和默克分别上涨2.9%和1.4%。每周表现显示上涨1.6%，使该指数连续第五周上涨。

Frankfurt's DAX rose over 0.5% to trade near 23,900 on Friday, as momentum built for a potential record close for the second day in a row. Market sentiment continued to be supported by cautious optimism that the global trade tensions may be easing. Adding to the positive tone, EU officials stated Thursday that the bloc is pushing for a more comprehensive tariff reduction deal with the US than those currently being negotiated with the UK and China, adding that discussions were progressing positively. On the corporate front, healthcare stocks led the way, with Bayer and Merck rising 2.9% and 1.4%, respectively. The weekly performance pointed to a 1.6% gain, positioning the index for its fifth consecutive weekly rise.

在法兰克福，DAX指数周五上涨183点，涨幅0.77%。领涨的是拜耳（2.69%）、SAP（1.66%）和德之馨（1.58%）。跌幅最大的是西门子（-0.38%）、德意志银行（-0.18%）和Zalando（-0.10%）。

In Frankfurt, the DAX Index is gaining 183 points or 0.77 percent on Friday. Leading the gains are Bayer (2.69%), SAP (1.66%) and Symrise (1.58%). Top losers are Siemens (-0.38%), Deutsche Bank (-0.18%) and Zalando (-0.10%).

在法兰克福，DAX指数周四上涨169点，涨幅0.72%。涨幅最大的是莱茵金属（5.38%）、拜耳（3.13%）和西门子能源（2.92%）。最大的亏损来自默克（-6.30%）、宝马（-5.74%）和德国商业银行（-2.21%）。

In Frankfurt, the DAX Index went up by 169 points or 0.72 percent on Thursday. Top gainers were Rheinmetall (5.38%), Bayer (3.13%) and Siemens Energy (2.92%). Biggest losses came from Merck (-6.30%), BMW (-5.74%) and Commerzbank (-2.21%).

随着全球投资者消化了新的美国经济数据并重新评估了美联储政策的前景，德国10年期国债收益率从最近五周的高点2.699%降至2.64%。美国4月零售销售增长大幅放缓，而生产者价格意外下降，主要是由于贸易利润率下降，这进一步表明特朗普总统的关税开始对经济产生影响。与此同时，美联储主席杰罗姆·鲍威尔警告称，由于供应冲击日益频繁，长期利率可能会保持高位，通胀可能会变得更加不稳定。在欧洲，货币市场在年底前将欧洲央行的存款便利利率定价为1.79%，并认为6月份降息的可能性为95%，因为政策制定者的目标是在贸易壁垒上升的情况下支持经济增长。欧洲央行政策制定者Villeroy de Galhau表示，到夏季还有再次降息的空间，而他的同事Nagel指出，通胀将“很有可能”趋同于欧洲央行2%的目标。

Germany’s 10-year Bund yield slipped to 2.64%, down from a recent five-week high of 2.699%, as global investors digested fresh US economic data and reassessed the outlook for Federal Reserve policy. US retail sales growth slowed sharply in April, while producer prices unexpectedly fell largely due to a drop in trade margins, adding to signs that tariffs under President Trump are beginning to have an economic impact. Meanwhile, Fed Chair Jerome Powell cautioned that long-term interest rates may remain elevated and inflation could become more volatile due to increasingly frequent supply shocks. In Europe, money markets priced the ECB’s deposit facility rate at 1.79% by year-end and assigned a 95% probability to a rate cut in June, as policymakers aim to support growth amid rising trade barriers. ECB policymaker Villeroy de Galhau said there is room for another cut by summer, while his colleague Nagel noted a “good probability” that inflation will converge toward the ECB’s 2% target.