- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,194.50-0.52%
- INTEREST37.00%-1.00
- BITCOIN82,961-0.85%
- October 13, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,194.50-0.52%
- INTEREST37.00%-1.00
- BITCOIN82,961-0.85%
- October 13, 202619°
Oil Calms as Global Markets Retreat
While global stock markets fell, oil prices declined following the Israel-Lebanon ceasefire. SpaceX's IPO, the EU's technology package, and the G7 invitation are also on the agenda...
Global markets started the week cautiously amid expectations that a new directional change might be on the horizon. Asia-Pacific stock markets followed losses on Wall Street, while European and US futures contracts also indicated that the pressure might continue.
Oil prices slightly declined after Israel and Lebanon agreed on the implementation of the ceasefire. This development increased expectations for a broader reconciliation following US-mediated talks.
Middle East headlines in focus of markets
Israeli Prime Minister Benjamin Netanyahu, in a comprehensive interview in Jerusalem, conveyed that Donald Trump warned Iran of a "full-scale military return" if necessary. Netanyahu emphasized that the final decision would belong to the US President.
Netanyahu also stated that there are some tactical disagreements between the US and Israel, but they largely share the same line in Middle East strategy. This statement kept questions about the region's tension alive.
The US House of Representatives also took a largely symbolic decision to limit Trump's authority regarding Iran. In the vote, four Republicans joined Democrats in supporting a measure that would prevent the continuation of the war without Congressional approval.
Historic IPO preparation for SpaceX
On the corporate front, SpaceX set a fixed price of $135 per share for its upcoming IPO next week. This pricing would value the company at $1.77 trillion.
This step is seen as a development that could make Elon Musk the world's first trillionaire. However, it is also noted that large IPOs can experience sharp pullbacks in their first year performance.
Europe discusses technology independence
The European Union announced the long-delayed "technology sovereignty" package. The package aims to reduce the bloc's dependence on US and China-based tech giants.
However, criticisms of the plan were not delayed. Comments that the regulation does not go far enough came to the fore, while debates on Europe's artificial intelligence rules are also growing.
Former UK Deputy Prime Minister and Meta's former global relations head Nick Clegg sharply criticized Europe's AI regulations.
Surprise invitation on the G7 list
Donald Trump confirmed via his Truth Social account that he will attend the G7 meeting to be held this month in Evian, France. OpenAI CEO Sam Altman is also expected to attend the same event.
Altman was invited to the meeting by a personal invitation from French President Emmanuel Macron. This invitation draws attention as a new example of close contact between the tech world and politics.
Questions arise over SoftBank's AI move
SoftBank's investment in OpenAI and its increasing debt burden raised questions about whether the company is under liquidity pressure. The Japanese tech investor's shares have risen about 70% this year.
The rise was influenced by the value increase of Arm Holdings and expectations that OpenAI might conduct a large IPO this year. This rally pushed SoftBank ahead of Toyota in market value.
However, analysts warn that the rise may overshadow risks in the company's balance sheet. It is also reminded that SoftBank suffered heavy losses years ago due to its WeWork investment, with total losses exceeding $14 billion.
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