Rise in US Stock Markets, AMD and OpenAI Collaboration Draws Attention

Mixed Start for US Markets

The US markets started October mixed under the effect of the government shutdown, but showed a slight recovery on optimism surrounding major corporate deals and third-quarter earnings reports. The federal government shutdown entered its tenth day as the Senate failed to pass a temporary funding proposal. Progress in negotiations between Republicans and Democrats appears difficult.

Third Quarter Earnings of Companies

As third-quarter earnings reports began to roll in, Delta Air Lines and PepsiCo announced positive results, yet their impact on the markets remained limited. Nevertheless, the S&P 500 and Nasdaq are on track to close in positive territory overall.

Borsa Istanbul and Company Developments

In Borsa Istanbul, the BIST 100 index continues its downward trend in a general environment of uncertainty, preparing to close the week with an almost 4% drop below the 11,000 point level.

One of the prominent developments during this period was the significant agreement between Advanced Micro Devices (AMD) and OpenAI. OpenAI will acquire a 10% stake in AMD and will use their graphics processors in the coming years. This development is considered an important step for the artificial intelligence and chip industries.

Significant Partnerships and Investments

The US also drew attention by approving billions of dollars in Nvidia chip exports to the United Arab Emirates. On the other hand, Sabancı Holding is evaluating plans to divest from its subsidiaries with low net profit margins.

Another significant development is Turkish Airlines' negotiations with Boeing. Chairman Ahmet Bolat stated that if no agreement is reached, they are considering turning to Airbus.

Digital Transformation and Crypto Developments

Bitwise and 21Shares took innovative steps in the crypto fund area by submitting their cryptocurrency funds to the US Securities and Exchange Commission (SEC), following the staking features launched by Grayscale for its Ethereum ETFs.

Jack Dorsey's company Block continues to occupy an important place in the financial ecosystem by introducing a Bitcoin payment and crypto wallet for small businesses.

Analysts' Stock Picks

Analysts shared the favorite stocks of Goldman Sachs and Bank of America for October. Among Goldman Sachs' favorites are Abbott Laboratories (ABT), Hershey (HSY), and Madison Square Garden (MSGS). Bank of America is forecasting growth in stocks such as CRH (CRH) and Birkenstock (BIRK).