Headlines of the Week: SpaceX and Energy Agreement in Turkey

Weekly Headlines Review

The week began with the nomination of Kevin Warsh as the new Fed Chair, resulting in a cautious mood in the markets amid concerns about artificial intelligence investments by giants like Amazon and Microsoft. Weak employment data pushed the markets into a 'risk-off' mode, with the Nasdaq, S&P 500, and Dow Jones experiencing weekly losses. Notably, the S&P 500 index slipped into negative territory, losing all of its gains from 2026.

BIST 100 Index Tested with an Increase

In Borsa Istanbul, the signing of a $2 billion solar energy investment agreement between Turkey and Saudi Arabia created a significant rise in renewable energy stocks. The BIST 100 Index reached levels around 14,000 points, but this increase was not sustainable; the index is on track to close the week with a 2% decline due to selling pressure from peak levels.

The mentioned agreement includes a 50% local content requirement for a solar power plant investment of 2000 MW to be established in Sivas and Karaman. The project is targeted to start in 2027 and to be fully completed by 2029.

Important Developments on the US Agenda

This week, significant announcements and new partnerships drew attention in US stock markets. In particular, Alphabet, Google's parent company, faced a drop in its stock price after stating that it would increase its capital expenditures despite reporting fourth-quarter results that exceeded analyst expectations. Amazon also failed to meet profit forecasts while projecting a capital expenditure of $200 billion for 2026.

SpaceX CEO Elon Musk made an important merger announcement; artificial intelligence initiative xAI is joining SpaceX. Musk described this merger as a long-term investment in the future of humanity.

New Tenders and Agreements

In Turkey, Girişim Elektrik made a significant step by winning a project to be carried out in the Turkish Republic of Northern Cyprus for €43.37 million. Agreements made abroad also drew attention; Yeo Technology signed a $111.23 million contract for solar energy projects in Romania.

Cryptocurrency and Digital Assets

The Chicago Mercantile Exchange (CME) announced it would support futures products for Cardano (ADA), Chainlink (LINK), and Stellar (XLM) starting February 9. Stablecoin issuer Tether is set to make a $100 million capital investment in Anchorage Digital.

This week, foreign investors made a $455 million purchase of Turkish stocks in the week ending January 30. Among the stocks recommended by analysts, First Industrial Realty Trust, Boeing, and Microsoft are highlighted as favorites by JPMorgan as of February.