After the Fed Minutes, a Stock Rally in Global Markets

Impact of Fed Minutes on Global Markets

U.S. stocks experienced a stunning rally after Fed minutes highlighted that officials are inclined to continue interest rate cuts. Investor interest particularly focused on AI-related stocks, leading to record closing levels.

Market Performance and Indices

The S&P 500 index reached an all-time high for the 33rd time in 2025, with a 0.6% increase. The Nasdaq 100 index rose by 1.2%, with Oracle shares rebounding by 1.5% after a 7.1% drop on Tuesday. Meanwhile, the basket of technology companies known as the Magnificent Seven gained 0.8%. Nvidia Corp. shares saw a 2.2% increase.

Although the S&P 500 continues to break records, the government shutdown and delayed data have resulted in trading volumes remaining within a narrow range. Just six months ago, U.S. stocks were on the brink of a bear market. However, the S&P 500 has gained approximately 36% since its low point on April 8. This magnitude of a six-month increase has only been recorded five times since 1950.

Global Developments and Asian Markets

Asian markets showed gains with a new wave of buying in AI-related companies; the MSCI regional stock index rose by 0.3%. Gains from technology firms like SoftBank Group Corp. supported the rise of the Nikkei index. However, the Hong Kong market exhibited a more volatile trend.

Following the peace agreement in the Middle East, gold and oil prices saw slight declines. Gold continued to trade above $4,000 as investors realized profits after the rally, and demand for safe-haven assets decreased. Oil prices fell after Trump announced the first phase of the peace plan. The dollar/TL traded at 41.72 early in the morning.

Upcoming Data and Important Meetings

Today, TÜİK will release August industrial production data. Additionally, BDDK and TCMB will announce weekly statistics. EU finance ministers will meet in Luxembourg to discuss budget and Russia-Ukraine war issues. The ECB will summarize its interest rate meeting held on September 10-11 at 2:30 PM. Fed Chair Jerome Powell will speak in Washington at 3:30 PM.