Core Viewpoint - Citi's quantitative strategists indicate that the risk of profit-taking in the Nasdaq 100 index is high due to heavy investor positioning in futures [1] Group 1: Market Sentiment - Despite ongoing global trade uncertainties, investors continue to build new long positions in U.S. stock indices [1] - The bullish momentum in the U.S. stock market persists following a week dominated by new risk capital inflows [1] Group 2: Regional Positioning - Investors maintain a neutral stance towards Europe, reflecting a lack of short-term confidence [1] - There has been a reduction in positions for the DAX and FTSE 100 indices, while European banks still show bullish positioning [1]

Core Viewpoint - The German DAX index reached a historic high, reflecting strong market performance in 2023 [1] Group 1 - On Wednesday, the DAX index increased by 1% to 24,340.09 points, surpassing its previous record set on May 28 [1] - Year-to-date, the DAX index has risen by 22%, significantly outperforming the European Stoxx 600 index, which has seen an increase of nearly 9% [1]