Daily Market Update
with JJ Kinahan

5 min read

Easing Turkey Tensions, Bumper Home Depot Earnings Appear to Boost Market

(Tuesday Market Open) With earnings season winding down, investors appear to be focusing more on geopolitical headlines once again. Stocks have seesawed amid worry over Turkey’s economy, with today’s action being to the upside as the nation’s currency gained ground. Strong earnings from Home Depot also appear to be helping sentiment.

This morning, U.S. stocks appeared poised for gains, based on equities futures trading before the opening bell, as the Turkish currency gained some footing. That was in contrast to Monday’s market, when U.S. investors appeared cautious as Turkey’s currency crisis continued. The Turkish currency hit a record low against the dollar on Monday but rebounded after the nation’s central bank said it would provide liquidity to the nation’s banks. 

The currency crisis in Turkey, which suffers from high inflation, comes as the U.S. has said it is increasing tariffs on Turkish steel and aluminum. That adds to trade tensions already simmering between the U.S. and key trading partners including China that have led some market watchers to worry about the effect on globa

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Daily Market Update

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