Global Stock Markets' Attempts at Peaks: Opportunities and Risks

Highlights from Last Week

The inflation data released in the US showed a monthly increase of 0.2% and an annual increase of 2.7%, aligning with expectations. This had a positive impact on the markets.

On the other hand, gold surpassed $4,640, reaching a new peak, while the price of gold per gram set a record at 6,443 TL. Additionally, the initiation of an investigation by the Department of Justice into building renovations related to Fed Chairman Jerome Powell was recorded as a negative development.

The results of the CBRT Market Participants Survey indicated that the year-end inflation expectation decreased from 23.35% to 23.23%, receiving a positive response in the markets.

Among cryptocurrencies, Bitcoin drew attention with a 5.2% increase, and the total market value of crypto assets rose by 3.2%. This volatility could create new opportunities for investors.

Second Quarter Performance and Opportunities

Such periods in the markets often harbor opportunities in overlooked stocks. Market themes established at the beginning of the year can cause some companies to underperform relative to sector averages despite strong expectations.

Therefore, monitoring the divergence between price performance and analyst expectations may be an important strategy for identifying potential opportunities. Since the beginning of 2026, stocks that have remained below the S&P 500 index have appeared weak, but this does not always indicate a structural deterioration.

Especially companies with positive free cash flow may possess growth potential supported by operational realities.

Stocks of the Week

CoreWeave shares gained 16.64% weekly, being among the first cloud providers to implement Nvidia’s Rubin AI platform in the early stages. On the other hand, Salesforce shares returned with a loss of 12.17% due to competitive concerns.

Analyst Recommendations

H.C. Wainwright upgraded Iren’s rating from “SELL” to “BUY.” Compass Point changed Mastercard’s rating from “NEUTRAL” to “BUY,” and Barclays upgraded Fabrinet’s rating to “HIGH PORTFOLIO WEIGHT.”

Important Developments for Next Week

In the upcoming week, the full-day market holiday in the US, along with the earnings results of Netflix and United Airlines, are among the key agenda items. Additionally, the CBRT’s interest rate decision and the credit rating assessments of Turkey by Moody’s and Fitch will be closely monitored by investors.