Following a positive course in global markets despite the concerns about the Omicron variant that emerged in the new type of coronavirus (Kovid-19) epidemic yesterday, eyes were turned to the 3rd quarter growth data in the domestic market and inflation data in the Eurozone abroad.
While the news feed regarding the large number of mutated Omicron variants of Kovid-19 remains in the focus of investors, the World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus yesterday said, "The emergence of the Omicron variant underlines how dangerous and risky our situation is." made the statement.
The health ministers of the G7 countries also called for "urgent action" against the Omicron variant, while the US President Joe Biden's statement that they were concerned about the Omicron variant, but that it was not a cause for panic, calmed the markets. Stating that a new quarantine option is not on the table for now, Biden said that they do not foresee such a thing at the moment, upon a question about whether a travel restriction will be imposed on the UK, European Union members and other countries.
Speaking at the opening of the New York Innovation Center, it was noteworthy that the US Federal Reserve (Fed) Chairman Jerome Powell did not evaluate the economy. On the other hand, Powell, whose text of his speech in the US Senate was published today, will warn Congress about the recent increase in Kovid-19 cases and the emergence of the Omicron variant, which pose downside risks to employment and economic activity and increase uncertainty regarding inflation.
US Treasury Secretary Janet Yellen is expected to warn that the current recovery of the country's economy will suffer if the debt limit is not raised in her presentation to the Senate.
Analysts stated that the concerns that the Omicron variant, which currently causes travel restrictions, may bring about possible closures, increase the risks regarding the global economy, and on the other hand, the statements made that the existing vaccines are also effective in the new variant ensure that the optimism is maintained.
With these developments, the New York stock market followed a buying weighted course, led by technology stocks, while the Nasdaq index gained 1.88 percent, the S&P 500 index gained 1.32 percent and the Dow Jones index gained 0.68 percent. After moving in the 96.0-96.5 band yesterday, the dollar index is flat at 96.1 levels today. The 10-year bond yield of the USA, on the other hand, rose from 1.47 percent yesterday and closed at 1.53 percent, while today it hovers around 1.50 percent. It is seen that the new day started positively in the index futures contracts of the USA.
On the European side, although the concerns about the Omicron variant and the data announced in Germany and Spain indicated that high levels of inflation were maintained, a positive trend was observed. It gained 0.16 percent in the DAX index in Germany, 0.73 percent in the MIB 30 index in Italy, 0.54 percent in the CAC 40 index in France and 0.94 percent in the FTSE 100 index in the UK. While the euro/dollar parity was trading just above 1.13 with an increase of 0.2 percent, the European index futures contracts also started the day with a new buyer.
According to the data released today in Asia, China's service sector Purchasing Managers Index (PMI) decreased by 0.1 points to 52.3 in November, revealing that sectoral growth remained on the positive side despite the economic slowdown concerns. The manufacturing industry PMI in the country rose by 0.9 points to 50.1 in November due to the decrease in power cuts and the sharp fall in raw material prices, and switched to the growth side for the first time since August. In Japan, industrial production, on the other hand, increased by 1.1 percent in October for the first time in three months, but remained below market expectations.
It is noteworthy that the new day started with a mixed course on the Asian side after the data, while almost all of the indices turned negative with the sales increasing their effect close to the close. While the Nikkei 225 index in Japan lost 0.8 percent, the Hang Seng index in Hong Kong decreased by 1.9 percent and the Kospi index in South Korea decreased by 1.7 percent, the Shanghai composite index in China increased by 0.1 percent.
On the commodities side, the barrel price of Brent oil, which fell sharply last Friday due to concerns about the Omicron variant, is fluctuating sharply today after following a fluctuating course in the 72.0-75.9 band yesterday. The barrel price of Brent oil is trading at $72.10 with a 1 percent decrease in these minutes. The ounce price of gold, on the other hand, closed just below $1,784 with a 0.5 percent loss yesterday, while it is moving around $1,793 today.
Domestically, the BIST 100 index followed a positive course and closed the day at 1,808.79 points with an increase of 1.82 percent. On the other hand, Dollar / TL is trading at 12.8970 levels at the opening of the interbank market today, after increasing by 3.3 percent compared to the previous closing level and closing at 12.8187 yesterday.
Analysts stated that the news flow regarding the Omicron variant will continue to be determinant on the direction of the stock markets, and said that today, in addition to the statements of Powell and Yellen, the domestic growth, the consumer confidence index in the USA and the inflation data in the Euro Area will be followed.
Stating that the statements of Fed Vice President Richard Clarida and New York Fed President John Williams will also be in the focus of investors, analysts stated that technically, the BIST 100 index is at the level of 1,830 as resistance and 1,730 points as support.
Economists participating in the survey conducted by AA Finans expect the Gross Domestic Product (GDP) to grow by 8.1 percent in the third quarter. The average of economists' growth expectations for 2021 was 10 percent.
The data to be followed in the markets today are as follows:
10.00 Turkey, 3rd quarter growth
11.55 Germany, November unemployment rate
13.00 Euro Zone, November CPI
17.00 USA, September housing price index
18.00 US, November consumer confidence index
18.00 US, Speech by Fed Chairman Powell and Treasury Secretary Yellen
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