Things You Need to Know Before the Market Opens (February 9, 2026)

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What You Need to Know Before the Market Opens

In global markets, the high volatility that has emerged in recent days has drawn the attention of investors. The risk aversion trend that occurred last week led to sharp declines, particularly in AI-themed stocks. This situation triggered a broad selling wave across technology and software stocks.

Despite the ongoing earnings season in the US, the Dow Jones index is approaching historic peaks at around 50,000 levels. However, investors have started to shift towards mid and small-cap companies and traditional sectors. This shift is shaped more by attractive valuations and upwardly revised profit expectations for these companies rather than fears of a potential recession.

Additionally, the S&P 500 index's weight being spread across a broader stock base rather than a narrow group of technology stocks clearly illustrates this situation. In the macro economy, the Producer Price Index, retail sales, employment, and inflation data to be released in the US are closely monitored by investors. It is expected that these data will be moderate enough not to eliminate interest rate cut expectations.

On the other hand, negotiations between the US and Iran in the oil market provide short-term relief, but it is evident that geopolitical risks continue. Brent oil is fluctuating around $68, while WTI is around $63. Additionally, the recent sharp price fluctuations in precious metals, particularly gold and silver, have caught the attention of investors.

When gold rose from $4,400 to $5,000, it was clear that central bank purchases, geopolitical uncertainties, and safe-haven demand played a significant role. In silver, price volatility increased; physical supply and speculative positions played a crucial role in price determinations.

In Borsa Istanbul, the short-term technical outlook is noteworthy, while profit realizations have come to the fore after the rise observed in January. The index remaining below short-term moving averages supports the correction process. Maintaining the 13,300–13,400 band is critically important for limiting the current correction.

Aside from all this information, short-term credit restrictions and contraction in the manufacturing sector continue to show their negative effects on the market. The upcoming Inflation Report and the messages from the Central Bank Governor are of key importance for investors.