The search for direction in global markets continues

As the earnings season gets increasingly intense in the US, technology company Meta reported strong financial results yesterday. US electric car manufacturer Tesla, on the other hand, could not meet expectations in terms of profitability.

While Meta's net profit increased by 264 percent in the third quarter of this year, reaching 9.9 billion dollars, Tesla's net profit decreased by 43 percent to 787 million dollars in the same period.

In the accelerating balance sheet calendar, the failure to fully resolve the question marks regarding the profitability of large technology companies in the USA and the continuing concerns about the financing of huge investments in the field of artificial intelligence make it difficult to navigate asset prices.

In addition, fears that tensions in the Middle East may escalate again at any time continue to put pressure on the markets, while oil prices remain at high levels due to the uncertainties in the Gulf.

Rising inflation concerns around the world due to rising oil prices continue to support predictions that central banks may accelerate the tightening process in monetary policies.

According to the pricing in the money markets, it is expected that the US Federal Reserve (Fed) will leave the policy rate constant at its next week's meeting with an 86 percent probability, while it is almost certain that it will increase the interest rate by 25 basis points in the December meeting.

While the New York Stock Exchange closed yesterday on a positive note with positive expectations regarding the financial results of the companies, mixed signals received from the balance sheets following the market close and concerns that tensions in the Middle East may escalate led to a sell-off trend on the Asian side on the new day.

On the geopolitical side, US President Donald Trump noted that the reason for going to war with Iran was to prevent Tehran from acquiring nuclear weapons, and argued that this was "one of the best things he has ever done."

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)