US stocks rose yesterday after the release of a report on the US labor market from ADP. Thus, the number of jobs in the US private sector grew by 200 thousand in September that is 8 thousand better than expected. It is worth noting that the weak statistics on Chicago manufacturing PMI, which fell below the level of 50.0 to 48.7 could not affect the mood of investors. Bullish momentum continues in connection with the reduction of risks associated with the Chinese economy. Today, the dynamics of trading will be affected by the news on the manufacturing PMI and construction spending in the US (14:00 GMT). Investors are waiting for tomorrow's report on the US labor market, which will be affected by the timing of forecasts of rising interest rates the Fed. Our medium-term outlook remains positive.
European stock indexes rose yesterday. The top gainers were shares of mining companies. The positive mood on the market was not able to be changed by the statistics on the increase in the number of unemployed in Germany to 2 thousand, as well as to maintain the level of unemployment in the euro area at the level of 11.0% which is 0.1% worse than the forecast. Business investment in the UK in the second quarter rose by 1.6% against the expected 2.9%, but the current account deficit amounted to 16.8 billion against 24.0 billion in the previous period. Today it became known that the manufacturing PMI in the Eurozone in September remained at 52.0, but in the UK fell to 51.5, against the forecast of 51.3. The medium-term positive outlook for European markets remains unchanged due to improved macroeconomic performance in the euro area and the program of quantitative easing in the Eurozone.
Markets in the Asia-Pacific region closed in the green zone on the background of a general improvement in investor sentiment in the world, and thanks to the statistics of China's manufacturing PMI, which rose by 0.1 to 49.8. The comparable figure in Japan rose by 0.1 to 51.0 in September, along with a decrease in the yen supported the Japanese market. The Australian market received a positive influence from the growth of the shares of mining companies. Tomorrow, we recommend paying attention to statistics on household spending and unemployment in Japan and retail sales in Australia. After the stabilization of the situation in China, we expect to see strong growth.