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Based on unofficial results announced so far in the US, although Joe Biden has 264 delegates and Donald Trump has 213 delegates, Trump’s campaign team in some states takes the results to court, raising concerns that uncertainties may continue for a while. In the US presidential elections, the name that reaches 270 delegates, more than half of the 538 delegates, is eligible to occupy the presidential seat.
Although the winner of the 59th US presidential election has not yet been determined, the New York Stock Exchange yesterday tracked progress with buyers, led by tech stocks. While the Dow Jones Index gained 1.34 percent, the S&P 500 Index 2.15 percent and the Nasdaq Index 3.85 percent, the Dollar Index completed the day at 93.4 after follow a fluctuating course in the 93.0-94.3 band.
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Analysts noted that while service sector data announced yesterday indicated that the economy’s recovery slowed, expectations that the economic stimulus package would return to the agenda after the elections had a positive impact on markets. While the United States Federal Reserve (Fed) is not expected to make a change in monetary policy tonight, verbal guidance from Fed Chairman Jerome Powell is expected to determine the direction of the markets.
On the European side, the current Brexit uncertainty, the growing number of new types of coronavirus cases (Kovid-19) and the strict measures taken in parallel to this, it was observed that the upward trend in the stock markets continued. While the quarantine decision to combat Kovid-19 was implemented in the UK, strict measures were initiated in many countries, especially France and Italy, to prevent the spread of the epidemic.
Yesterday, European stocks, which were supported by the higher expectations of the Purchasing Managers Index (PMI) of the services sector, followed a positive course, while the DAX index in Germany was 1.95 percent, the CAC 40 index in France it was 2.44 percent and the FTSE 100 index in the UK. It gained 1.67 percent. Expressing that the Bank of England (BoE) interest rate decision will be followed today, analysts said the BoE is not expected to change interest rates, but may increase the bond purchase program.
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With the growing appetite for global risk, there is a trend of buyers in the Asian stock markets. Supported by the services sector PMI data announced in Japan reaching 47.7 and beating expectations, the Nikkei 225 Index, which is close to closing, gained 2 percent, the Shanghai Composite Index in China increased 0.8 percent and the Kospi index in South Korea increased 2.1 percent.
Nationwide, the BIST 100 index gained 1.47 percent yesterday and closed the day at 1,167.65 points. The dollar / TL is trading at 8.4650 at the opening of the interbank market today after closing yesterday at 8.4307. Analysts asserted that the news flow on the results of the US presidential elections remains at the center of the agenda, and that the Fed and BoE interest rate determination will also follow the data agenda.
Noting that the data calendar is calm domestically, analysts said that the BIST 100 index is technically at the support level of 1,120 points and the resistance level of 1,180.
