US stock indexes showed growth against the backdrop of contradictory statistics from the US and the positive data from China. Thus, the manufacturing PMI in America showed a decline to 52.9, which is 0.5 worse than analysts' forecasts. At the same time, analysts pointed out that the slowdown was due to a strike at one of the country's ports. Construction spending in the US fell by 1.1% against the expected growth of 0.4%. Today, volatility is low. Traders will not rush to build up positions before the publication of important statistics on the US labor market on Friday. Given the positive expectations related to the launch of the program of quantitative easing in the euro area, we remain positive medium-term outlook for the US market.
Most of the major European indexes showed a decrease on the background of another growing speculation about the debt problems of Greece, which had previously received an additional 4 months to settle agreements with creditors. Positive statistics on reduced unemployment to the level of 11.2%, which is 0.1% better than the previous figure, could not change the course of trading. In addition, deflation has decreased to 0.3%, against the expected 0.5%. Today the mood of investors has improved due to the increase in retail sales in Germany by 2.9%, against an expected increase of 0.5%. The number of unemployed in Spain unexpectedly fell by 13,5 thousand, compared with an expected growth of 10.5 thousand. We expect growth in the European markets in the medium term.
Most stock indexes Asia-Pacific region showed a negative trend despite the positive external background associated with the growth of the US market. Investors continue to consider the impact of lower interest rates by People's Bank of China to 0.25%. The Australian market retreated from its highest level in seven years. Tomorrow trading dynamics will depend on the data of service PMI in China and the growth of GDP in Australia. We maintain a positive medium-term outlook for the markets of the region, but note the risks associated with the crisis in the construction sector in China.