Important Developments You Need to Know at Market Opening

Market Opening Highlights

Before the market opens on September 24, there are several important developments that investors should pay attention to. It is useful to analyze the economic data in the US and Europe as well as the situation in the domestic market.

Economic Developments in the US

The statements made by Fed officials increase the uncertainties for the future. Investors expect an easing of around 43 basis points at the two remaining meetings this year. However, statements from Fed Chairman Powell and other officials point to the influence of inflation and the labor market on decisions.

Today, the US economy's Q2 growth data will be released and investors are primarily focusing on personal consumption expenditures (PCE). PCE data is expected to show a monthly increase of 0.2%.

Developments in Europe and Asia

The profit realization in Europe, especially after the strong PMI data, had an impact on global markets. European stock markets are preparing for a flat start to the day. In Asian markets, the upward trend continues due to the Fed's rate cut decision. While services PMI data in Japan remained in the growth zone, uncertainties about the global trade order led to limited fluctuations.

Commodity Markets and Gold

Commodity prices also showed significant developments. Gold prices stabilized around $3,730-3,740 with a slightly stronger dollar. Oil prices, on the other hand, were trading at a seven-week high due to the decline in US inventories and geopolitical risks, but retreated slightly after profit realizations due to supply concerns; Brent oil fell 0.4% to $69.05.

Domestic Markets

Domestic BIST 100 index closed the day at 11,366 points, maintaining 11,000 support. CBRT's tight stance has a positive impact on the market by supporting bond yields downwards. September inflation, along with the S&P rating assessment and important meetings, put significant pressure on investors.

The Trump-Erdogan meeting, especially the meeting between President Erdogan and top US corporate executives, is raising expectations of a trade deal in the markets. Following today's meeting, developments after the close of the session will be carefully monitored.

Technical Analysis and Strong Stocks

Among the noteworthy stocks in the BIST 100 index, there are stocks that are trading above the 9, 21, 50 and 200-day exponential moving average and have positive technical indicators. These shares are:

• Batisöke Cement (BSOKE)
• Emlak Konut GMYO (EKGYO)
• Graınturk Holding (GRTHO)
• Turkish Airlines (THYAO)

It should be noted that the information contained herein does not constitute investment advice. It is recommended that you seek professional advice before investing.