US Non-Farm Payroll Data Sparks Curiosity in Global Markets

Global Markets Focused on the US

Global markets are focused on the November 20 release of the US non-farm payroll data. The US Bureau of Labor Statistics is expected to impact market outcomes with this critical data, along with the contents of the employment report. Economists emphasize that the released data could lead to fluctuations in the labor market, particularly affecting career holders.

Fed's Wait-and-See Strategy

In light of recent developments, expectations have increased that The Federal Reserve (Fed) officials may adopt a "wait-and-see" position, while the probability of a 25 basis point rate cut by the bank in December has dropped to %44. This situation stands out as a development being closely monitored by investors.

Uncertainties in Economic Data

Another factor creating uncertainty in the markets is the disruption of macroeconomic data flow due to the government's shutdown. Interruptions in the data flow make it difficult to forecast the economic outlook. US Labor Secretary Lori Chavez-DeRemer indicated that the consumer price index (CPI) data for October may not be released due to the inability to fully collect it.

Declines and Risks in Technology Stocks

The volatility index known as VIX Index has risen by %14.2, reaching the level of 20. Concerns about high valuations have put pressure on technology stocks, with warnings from some executives about possible corrections further solidifying this situation. Shares of major technology companies such as Nvidia, Intel, and Tesla have all recorded declines.

Developments in European and Asian Markets

In European stock markets, a bullish sentiment has been observed following the reopening of the US federal government, while consumer inflation to be released in the Eurozone has become the focus of investors. Additionally, in Asian markets, increases have been observed, except for China, with statements made through Bank of Japan's Kazuo Ueda drawing attention.

Current Account Surplus in Domestic Market

Domestically, the BIST 100 index closed down %3.28 at 10,565.74 points, while Turkey's current account showed a surplus of 1 billion 112 million dollars in September, marking the third consecutive month of positive performance. These developments may be promising for domestic investors.