df_merged = reduce(lambda  left,right: pd.merge(left,right,on=['DATE'],
                                            how='outer'), data_frames)

# if you want to fill the values that don't exist in the lines of merged dataframe simply fill with required strings as

df_merged = reduce(lambda  left,right: pd.merge(left,right,on=['DATE'],
                                            how='outer'), data_frames).fillna('void')