Beyond the AI Hype: 3 Tech Stocks Poised for Explosive Growth! Beyond the AI Hype: 3 Tech Stocks Poised for Explosive Growth!

Macroeconomic data released in the US continues to affect asset prices.

Data released yesterday showed that housing construction recovered in September. Accordingly, housing starts in the US, which fell to a 3-year low in August, increased by 7 percent in September, while building permits fell less than expected in the same period.

Following the data indicating that the economy maintained its strength, expectations that the Fed would keep interest rates higher for a longer period strengthened, while bond yields rose. The US 10-year bond yield rose above 4.9 percent for the first time since 2007.

Along with these developments, Fed Board Member Christopher Waller stated that it was too early to say whether further rate hikes would be necessary.

Waller noted that he believes that they can wait and see how the course of the economy will develop before making decisive moves in the course of the policy rate. Noting that he will look carefully at the data, Waller signaled that he is in favor of keeping interest rates unchanged at the next meeting.

"If the real side of the economy softens, we will have more room to wait for further rate hikes and let the recent rise in long-term rates do some of the work. But if the real economy continues to show underlying strength and inflation stabilizes or reaccelerates, further policy tightening is likely to be needed despite the recent rise in long-term interest rates."

New York Fed President John Williams noted that interest rates will need to remain at restrictive levels "for some time" to bring inflation back to the bank's 2 percent target.

On the other hand, in the Fed's "Beige Book" report, it was reported that there has been "little" change in economic activity since September, the tightness in the labor market has continued to loosen across the country and prices have continued to rise at a moderate pace in general.

Analysts noted that despite the steps taken by the Fed, the desired slowdown in economic activity could not be achieved and the threat of inflation is still a source of concern, noting that this situation increased the selling pressure in bond markets and raised it to the peak of the last 16 years, and that the signals to be received from Fed Chairman Powell's statements on the economic outlook at the New York Economic Club today are expected to be effective on the direction of the markets.

Stating that the Fed is not expected to change the policy rate next month in the pricing in the money markets, analysts reported that the uncertainties regarding the next two meetings may become clear with Powell's statements today.

While stock-based volatility increased in the ongoing balance sheet season in the country, shares of Morgan Stanley, one of the country's major banks, fell nearly 7 percent after the bank announced that its net profit decreased by 9 percent in the third quarter of this year compared to the same period in 2022.

US electric car manufacturer Tesla's profit fell 44 percent in the third quarter compared to the same period last year, with the effect of discounts on car prices worldwide.

Volatility based on news flow continues to be effective in commodity prices.

While the strong perception that US President Joe Biden's visit to the Middle East did not yield the desired efficiency caused the expectations for the cessation of conflicts to weaken, the ongoing risk perception continues to support the demand for gold.

After testing the highest level since August 1 with $ 1,962 yesterday, the price of gold ounce completed the day at $ 1,948 with an increase of 1.3 percent, while it is flat on the new day.

While the price of Brent oil continues to find buyers above $ 90 a barrel, the US administration suspended some sanctions imposed on the country's oil, natural gas and gold sectors after the government in Venezuela reached an agreement with the opposition to hold elections in 2024.

With these developments, the Dow Jones index lost 0.98 percent, the S&P 500 index 1.34 percent and the Nasdaq index 1.62 percent on the New York stock exchange yesterday. Index futures contracts in the US started the new day with a sales-heavy course.

While a sales-heavy course stood out in European stock markets yesterday, developments in the Middle East and macroeconomic data are closely monitored.

Although the European Central Bank (ECB) is not expected to raise interest rates in the coming period, macroeconomic data and rising commodity prices continue to affect pricing in money markets.

Yesterday, the DAX 40 index in Germany lost 1.03 percent, the CAC 40 index in France 0.91 percent, the FTSE 100 index in the UK 1.14 percent and the MIB 30 index in Italy 0.82 percent. Index futures contracts in Europe started the new day with a decline.

Asian equity markets are following a negative course on the new day due to the selling pressure in the US bond markets.

While the problems of the real estate sector in China continue to affect the markets, the news flow regarding Country Garden, the country's largest player in this field, continues to be in the focus of investors.

On the other hand, today, the South Korean Central Bank left the policy rate unchanged at 3.5 percent for the 6th consecutive meeting.

According to macroeconomic data released in Japan, the foreign trade balance in the country gave a surplus of 62 billion yen contrary to expectations.

Near the close, the Nikkei 225 index in Japan fell 1.8 percent, the Kospi index in South Korea 1.9 percent, the Shanghai composite index in China 1.4 percent and the Hang Seng index in Hong Kong 2 percent.

In Turkey, the BIST 100 index in Borsa Istanbul, which followed a sales-heavy course yesterday, completed the day at 7,842.66 points with a loss of 3.36 percent.

Dollar / TL is traded at 28.0200 at the opening of the interbank market today after completing the day at 28.0028 with an increase of 0.2 percent yesterday.

Analysts stated that today, weekly money and banking statistics in Turkey and Fed Chairman Powell's speech abroad, as well as unemployment benefit applications in the US, Philadelphia Fed manufacturing index housing starts and second-hand housing sales and news flow regarding the Israeli-Palestinian conflict will be followed, technically, 7,840 and 7,750 levels in the BIST 100 index are in support and 8,000 points are in resistance position.