Market Agenda: Important Information for Investors

Market Agenda and Gold Record

Global markets are focused on gold reaching its historic record. As of today, the price of gold has exceeded $4,034 per ounce, hitting a new peak. Increasing geopolitical risks, a weakening dollar, and strong purchases by central banks are the main factors supporting this rise.

Uncertainty about the US and Interest Rate Cuts

As the US federal government shutdown continues into its seventh day, disruptions in data releases are increasing uncertainty regarding the Fed's interest rate cut process. The release of the latest FOMC meeting minutes today and the messages from Fed Chairman Powell tomorrow are of great importance for investors.

Wall Street and Asian Markets

Wall Street indices pulled back slightly following recent sharp gains, with profit-taking. A particularly weak performance in technology stocks is noteworthy. In Asia, the depreciation of the Japanese yen and selling pressure on technology stocks continue to have an impact.

Investor Confidence in Europe

While signals of recovery in investor confidence are seen in Europe, discussions have emerged regarding increased taxes and quota regulations on steel imports by the EU. The yield on US 10-year treasury bonds stands at 4.12%, while the Dollar Index hovers around 98.8. Gold is trading at $4,031, and Brent crude has declined to $65.7.

BIST100 Index and Domestic Reactions

The BIST100 index is preparing to open with a buying trend following yesterday's reactionary movement. However, the ongoing economic and political uncertainties may lead to a volatile outlook in the short term. Technically, the 10,900 level is identified as the first resistance, while the 11,100-11,150 range is positioned as the main resistance. The levels of 10,800 and 10,650 emerge as support points.

Notable Stocks

In particular, the stocks listed below are drawing attention with their strong technical appearances:

• Batısöke Cement (BSOKE)
• Pasifik Eurasia Logistics (PASEU)
• Gülermak Heavy Industry (GLRMK)

The information provided here does not constitute investment advice.