On Friday, Germany's DAX index relinquished its early upward movement, closing approximately 0.5% lower at 24,211. This downturn was in sync with broader European markets, which mirrored US market behaviors in light of renewed concerns surrounding tech stock valuations, particularly those of Broadcom and Oracle. Additionally, NATO Secretary General Mark Rutte's statement urging Europe to brace for potential conflict overshadowed investor optimism stemming from the Federal Reserve's recent interest rate reduction and its indication of a possible further cut in 2026. In terms of individual stock performance, Siemens Energy (-3.8%), Deutsche Bank (-3.1%), Commerzbank (-2.3%), and Merck (-1.1%) were among the most notable decliners. Conversely, Adidas and Puma saw gains, climbing 1.9% and 2.4%, respectively, fueled by strong earnings announcements from US-based Lululemon Athletica and its intention to appoint a new CEO. Other significant gainers included E.ON (+1.8%), Brenntag (+1.6%), and Volkswagen (+1.4%). Over the course of the week, the DAX registered an increase of 0.8%, marking its third consecutive weekly rise.