Daily Bulletin

Global risk appetite is losing momentum; however, the overall outlook remains balanced this morning. Nvidia’s financial results and forward guidance failed to generate excitement, and global markets are expected to focus on today’s U.S. growth data. On Borsa Istanbul, following eight consecutive sessions of gains, the BIST 100 index closed yesterday down 1.5% at 11,359. Despite the decline, capital inflows continue, although they remain concentrated in certain institutions and companies rather than being broadly distributed. In the short term, key support levels for the BIST 100 stand at 11,320 and the 11,000–11,100 range, while resistance levels are located at 11,500–11,600 and 11,800–12,000. Today’s agenda includes the Economic Confidence Index and the foreign trade balance domestically, while in Europe, consumer and industrial confidence indices will be monitored. In the U.S., attention will turn to Q2 GDP growth (to be released at 15:30 local time), weekly jobless claims, and pending home sales. Ahead of the September 17 Fed meeting, upcoming U.S. data releases carry significant potential to trigger volatility. In particular, tomorrow’s release of the core Personal Consumption Expenditures (PCE) index—considered the Fed’s key inflation gauge—will be especially critical. Meanwhile, Turkey’s 5-year CDS premium opened the day at 265 basis points.