Daily Bulletin

Good morning. NVIDIA's earnings report was released after market close in the U.S., with neutral results and optimistic expectations. U.S. futures are in positive territory this morning. In Europe, markets were strong yesterday, but futures are weak this morning. Meanwhile, Asia presents a mixed outlook. Borsa Istanbul reacted with a nearly 1.3% rebound yesterday, driven by an institutional inflow of 2.23 billion TL. However, the closing remained below the 200-day exponential moving average at 9,600. Today, we expect the rebound to continue and the 9,600 resistance level to be tested. According to domestic and foreign institutional expectations, the 12-month average target for the BIST 100 index is around 14,200, indicating a potential return of nearly 50% at the index level. This potential, which surpasses expected returns from deposits and foreign exchange as well as projected inflation, supports our view that the market offers a "buy-and-hold" opportunity for medium- to long-term investors. On today's agenda, key domestic data points include the Economic Confidence Index, trade balance, and the Central Bank of Turkey's (CBRT) reserve figures, along with foreign investors’ securities transactions. Internationally, confidence indices in Europe and GDP data in the U.S. take center stage. Turkey's 5-year CDS starts the day at 251 basis points.