The declines seen in technology stocks last week were replaced by increases this week, supporting the risk appetite in global markets. US President Donald Trump's statement that he sees the possibility of a new attack against Iran as low and that there is no need for a new military operation ensures that the decline in oil prices continues, and this reduces the risk perception in the markets.
With these developments, the barrel price of January term Brent oil decreased by 1.1 percent to 91.5 dollars.
In addition to these developments, the statements of the US Federal Reserve (Fed) officials are also followed. Chicago Fed President Austan Goolsbee stated that employment and growth in the country are quite stable, and that they "have to face failure" regarding inflation.
Goolsbee stated that inflation started to rise in the service sector. Richmond Fed President Tom Barkin also pointed out risks regarding inflation. Barkin emphasized that the direction of monetary policy is clear, but they should proceed carefully when determining policy.
Regarding the labor market, Barkin said that layoffs continue to be limited. On the other hand, the inflation data to be announced today in the USA will be the focus of the markets. The US's October inflation data is expected to be important in shaping expectations for the Fed's December interest rate decision, following the strong employment figures announced in the country.
Before the data in question, the US 10-year bond interest rate was flat at 4.87 percent, the dollar index was flat at 101.6, while the ounce of gold was at 4 thousand 114 dollars with a decrease of 0.6 percent.
Analysts stated that the inflation data to be announced in the USA is expected to be decisive on the direction of asset prices. Currently, expectations that the Fed will tighten monetary policy further continue to put pressure on gold prices.
New York stock market followed a positive trend
With these developments, a positive trend was observed in the New York stock market yesterday. Among the US technology giants, Apple's shares gained 2.4 percent, Microsoft's shares gained 2.8 percent, Alphabet's shares gained approximately 1 percent, Amazon's shares gained 3 percent and Meta's shares gained 5.1 percent.
Shares of Elon Musk's companies, Tesla and SpaceX, also compensated for some of their losses last week, with increases of nearly 6 percent. Among the chip companies, AMD's shares rose 13.3 percent, Broadcom's shares rose 8.8 percent, Micron's shares rose 6.3 percent and Intel's shares rose 5.5 percent.
On the other hand, the decline in Nvidia shares after the investigation decision regarding espionage allegations attracted attention. Nvidia announced that it would launch an independent investigation following the news that the company's founder and chief executive (CEO) Jensen Huang was the target of foreign intelligence activity. Nvidia's shares, which were under intense sales pressure with this development, lost 4.3 percent of their value.
The New York Branch of the US Federal Reserve (Fed) published the results of the Consumer Expectations Survey for October. Accordingly, the short, medium and long-term inflation expectations of consumers in the USA remained unchanged in October at 3.9 percent, 3.3 percent and 3 percent, respectively.
Index futures contracts in the USA started the day with a mixed trend.
European stock markets remained positive
European stock markets finished the day positively, as the rise in technology stocks spread to other sectors and the balance sheets announced by companies were better than expectations.
On the other hand, Euro Group President Kiryakos Pierrakakis stated that the candidates of Spain and the Netherlands for the presidency of the European Central Bank (ECB) will be introduced at the meeting, and that he expects the election process to be carried out with political consensus at the leadership level and to be completed by the end of the year.
On the macroeconomic data side, the investor confidence index in the Eurozone decreased by 0.3 points in November, falling below market expectations and falling to 2.4 points.
With these developments, the DAX index in Germany gained 1.73 percent, the FTSE 100 index in England gained 1.02 percent, the CAC 40 index in France gained 1.16 percent and the FTSE MIB index in Italy gained 2.69 percent. The profit and revenue of Italy-based banking group UniCredit, which exceeded expectations for the third quarter, had a positive impact on the country's stock market. The company's shares rose 6.3 percent.
Index futures contracts in Europe started the day positively.
Asian stock markets remain positive
The rise in the shares of technology companies also increased risk appetite in Asian markets.
Shares of South Korean technology companies SK Hynix increased by 6.5 percent, shares of Samsung Electronics increased by 4.5 percent, and shares of LG Innotek increased by 4.5 percent. Shares of Japanese technology companies Kioxia increased by 7.5 percent and shares of Murata increased by 6 percent.
On the other hand, China's October exports increased below expectations with 35.2 percent on an annual basis, while imports increased above expectations with 41.6 percent. It was observed that the growth rate of exports slowed down compared to September, while the increase in imports accelerated. The country's foreign trade surplus, which was 133.5 billion dollars in September, decreased to 105.3 billion dollars in October. Expectations were that the foreign trade surplus in the country would be 125.8 billion dollars in October.
The strong course of the yuan against the dollar was effective in the contraction in China's foreign trade surplus. The rise in oil imports is among the most important factors increasing China's imports.
The fact that exports are still strong in the country enables policymakers to maintain moderate economic support policies to achieve the country's annual growth target of 4.5-5 percent.
A large part of the increase in exports is due to strong demand for artificial intelligence and technology products. However, it is estimated that any slowdown in the development of artificial intelligence infrastructure on a global scale could narrow the profit margins of Chinese exporters.
With these developments, the Nikkei 225 index in Japan increased by 2.5 percent, the Kospi index in South Korea increased by 3.8 percent, the Shanghai composite index in China increased by 0.1 percent and the Hang Seng index in Hong Kong increased by 0.3 percent.
The stock market finished the day with an increase
BIST 100 index at Borsa Istanbul, which followed a buying-oriented trend yesterday, closed the day at 11,712.67 points, gaining 2 percent in value.
The December futures contract based on the BIST 30 index in the Borsa Istanbul Futures and Options Market (VIOP) gained 0.64 percent in yesterday evening session compared to the normal session closing.
While Dollar/TL completed the day horizontally at 50.1797 yesterday, it is traded at 50.2306 at the opening of the interbank market today, 0.1 percent above the previous closing.
US technology giant Apple announced that it will make a long-term investment in Türkiye to support new generation content creators, innovative entrepreneurs and manufacturers and to help Türkiye become one of the leading centers in the field of international application development.
Addressing the nation after the Cabinet Meeting at the Presidential Complex, President Recep Tayyip Erdoğan said, "We are resolving the funding issue, which has been on our agenda since September 17, step by step within the framework of the road map we announced." he said.
Analysts stated that industrial production in the country and inflation in the USA will be followed abroad today, and noted that technically, 11,800 and 11,900 points in the BIST 100 index are resistance, and 11,600 and 11,500 points are support.
The data and developments to follow in the markets today are as follows:
10.00 Türkiye, September industrial production
16.30 USA, October Consumer Price Index (CPI)
