October 14: Highlights of Developments at Market Opening

Market Overview

The week started positively on a global scale. US President Donald Trump's more moderate statements towards China have increased optimism in trade relations, supporting investors' risk appetite. Trump conveyed the message that the issues between the two countries could be resolved and emphasized Washington's pursuit of cooperation with China.

Interest Rate Cut Expectations and Commodity Prices

An important development occurred at the Federal Reserve (Fed). Philadelphia President Anna Paulson stated that the slowdown in the labor market strengthened the need for interest rate cuts. These statements boosted gold and silver prices. As of today, gold reached $4,162 per ounce, while silver hit $53.13, setting new records. A report published by Bank of America forecasts a target of $5,000 for gold by 2026, supporting precious metals.

Asian Markets and Domestic Data

In Asian markets, a mixed outlook prevails. While China is supported by strong export data, political uncertainties in Japan create pressure. Domestically, the BIST 100 index closed at 10,556 points with a drop of 1.53% during the day. Intense selling in banking and industrial stocks pulled the index down. In the coming days, the 10,700 and 10,800 levels are emerging as significant resistance points.

Highlighted Stocks and Analyses

Today, the data flow domestically is calm. However, Pegasus (**PGSUS**) draws attention by increasing its passenger count by 20% year-on-year. In addition, positive developments regarding Çimsa’s (**CIMSA**) new gray cement plant in the US increase the likelihood of an upward movement in these stocks.

Among the stocks showing a strong technical outlook are Batısöke Cement (**BSOKE**), Gübre Fabrikaları (**GUBRF**), and Gülermak Heavy Industry (**GLRMK**). These stocks attract attention by being priced above certain moving averages.

Market Conclusions

The easing of trade relations in global markets supports risk perception, while the weak technical outlook persists domestically. In the coming days, the Fed's messages and international data flow will be influential in determining the direction of the markets.