Market Update: Critical Data and Stocks

Latest Developments in Markets

As trade tensions between the US and China come back to the forefront, this situation has increased selling pressure in the markets. The risk of a government shutdown and fragilities in the banking sector are raising concerns among investors. As a result, the Dow Jones lost 0.65%, the S&P 500 dropped by 0.63%, and the Nasdaq decreased by 0.47%.

Macroeconomic Data

The released macro data shows a weak outlook. The Philadelphia Fed business outlook index indicated a significant decline in October, while the New York Fed service activity index similarly decreased. In September, there was a federal budget surplus of $198 billion. The budget deficit is projected to fall to $1.8 trillion by the fiscal year 2025.

Geopolitical Developments

The upcoming meeting between US President Donald Trump and Russian President Vladimir Putin in Budapest is increasing uncertainties in the markets. Additionally, the US's new customs tariffs on China are reviving concerns over a trade war.

Precious Metals and Oil

Due to safe-haven demand for precious metals, gold prices are nearing record levels. The price of gold has surpassed $4,300, while investors expect the Federal Reserve to continue its interest rate cuts. Silver is trading around $54, and Brent crude oil has declined to $60.

Global Market Status

Asian stock markets ended the week weakly, following losses on Wall Street. Today, Eurozone inflation, along with US industrial production, housing starts, and construction permits will be closely watched. With a decline in the dollar index, the EUR/USD pair is approaching 1.17, while the rise in this region remains important in the short term.

Borsa İstanbul Status

In Borsa İstanbul, the BIST 100 index ended the day down 0.90% at 10,370 points. Despite a 0.86% increase in the banking index, many stocks faced severe sell-offs. We continue to monitor the critical support level at 10,300.

Highlighted Stocks

Some stocks with a strong technical outlook are as follows:

• Gür-Sel Turizm Taşımacılık (GRSEL)
• Katılımevim Tas. Fin. (KTLEV)

This information should not be considered as investment advice.