Global markets seek direction

While worldwide recession concerns continue to influence prices, the company’s financial results and divergences based on stocks and sectors are noted to have increased.

While global markets continue to search for direction as the company’s financial results continue to give mixed signals regarding the economies, eyes today turn to the intense macroeconomic data schedule to be released in the US.

DISORDERS IN THE LABOR AND SUPPLY CHAIN

Announcing its US fourth-quarter 2022 financial results yesterday, Boeing posted a loss of $1.75 per share, while workforce and supply chain deterioration led to the loss.

Electric carmaker Tesla, which announced its results after the markets closed, increased its revenue by 37 percent to $24.3 billion, while market expectations were for $24.7 billion.

With these developments, the New York stock market, which started the day down close to 1 percent, made up for most of its losses near the close as eyes turned to macroeconomic data to be announced today in the country.

GYSH US DATA IS IN THE FOCUS OF INVESTORS

Analysts stated that today the Gross Domestic Product (GDP) data for the fourth quarter of 2022 in the US is in the focus of investors and stated that market expectations point to quarterly growth of 3.5 percent. .

Noting that the personal consumption spending to be announced in the report, as well as growth data, have an impact on the US Federal Reserve’s monetary policies, the analysts said that volatility in the markets may increase. with direction signs. of the economy

Analysts said the Fed is considered certain to raise the policy rate by 25 basis points next week, in line with money market pricing, and said the possibility of a 25 basis point hike in Interest rates at the March meeting are strong, but there are also predictions in the markets that the bank could pause rate hikes in March.

Analysts noted that the spread between the three-month Treasury bill and the US 10-year bond rate remained at 125 basis points, indicating that recession concerns remain strong, and They added that this situation suppressed the dollar against other currencies, which caused the dollar index to float at the bottom of 8 months.

With the weakening dollar, the price of gold rose to a 10-month high at $1,946 an ounce, while Bitcoin also tested the highest level since August 2022 at $23,816.

With these developments, the S&P 500 and Dow Jones indices on the New York Stock Market were flat, while the Nasdaq index lost 0.18 percent. US index futures contracts started the new day with limited gains.

TRADITION WEIGHTED BY SALES IN THE EUROPEAN EXCHANGE

While yesterday highlighted a sell-off course on European stock markets, developments related to the war between Russia and Ukraine accelerated again.

German Chancellor Olaf Scholz announced that his country would further strengthen its military support for Ukraine and decided to supply Leopard 2 main battle tanks, while senior US officials also sent 31 M1 Abrams tanks and 8 M88 tank recovery vehicles to Ukraine. provided.

While stock markets moved in a downward trend on concerns that these events could increase risk factors in the region, the FTSE 100 index in the UK was 0.16 percent, the DAX index 40 in Germany was 0.08 percent, the CAC 40 index in France was 0.09 percent, and Italy’s FTSE 100 index was 0.08 percent. The MIB 30 index fell 0.03 percent. Index futures contracts in Europe started the new day higher.

While a mixed course is highlighted in the Asian markets, the Chinese markets remain closed.

While the Nikkei 225 index fell 0.2 percent in Japan near the close, South Korea’s Kospi index rose 1.5 percent and Hong Kong’s Hang Seng index, which opened after a holiday from three days, it was up 2 percent.

FETCH

Domestically, the BIST 100 index, which yesterday followed a fluctuating course in the 5,100-5,400 band, closed the day at 5,297.77 points with a depreciation of 1.28 percent.

The dollar/TL, which closed yesterday at 18.7985 with a horizontal course, is trading today at 18.8060 at the opening of the interbank market.

Analysts noted that the Central Bank of the Republic of Turkey (CBRT) Inflation Report and CBRT Monetary Policy Committee meeting summary will be followed today, and will follow an intense data agenda, especially growth and sales of US new homes, technically 5,350 and 5,350 on the BIST 100 index. He noted that the 5,500 level is resistance and the 5,100 level is support.

The data to follow in the markets today are the following:

* 10.30 Turkey, CBRT Inflation Report
* 14.00 Turkey, summary of the CBRT MPC meeting
* 14.30 Turkey, weekly money and bank statistics
* 16.30 US, Q4 GDP
* 16:30 US, December durable goods orders and foreign trade balance
* 16:30 US, Chicago Fed National Activity Index for November
* 4:30 p.m. USA, weekly jobless claims
* 18.00 US, new home sales in December (YY)