08.01.2014 - Stock indexes corrected upwards

Major US indexes yesterday showed strong growth against the background of correction after a sharp decline in the previous days. Investor optimism was also caused by the labor market data from ADP, which showed an increase in the number of new jobs by 241 thousand, versus the expected 227 thousand. At the same time, the US trade deficit unexpectedly fell to $ 39 billion in November, compared with an expected 42.3 billion. Publication of the minutes of the Fed does not strongly affect the course of trading. Today, investors will not rush to build up positions ahead of the release of important statistics on the US labor market. Our medium-term outlook for the US market remains negative.

European stocks rose slightly yesterday amid growing speculations about an earlier decision to launch a full-scale program of quantitative easing. These speculations have been caused by the publication of data on the consumer price index, which showed the transition to a deflation of 0.2%. Today positive for the market was the statistics on retail sales in the euro area, which rose 0.6% in November, which is two times more than the expectations of experts. British investors will be watching for the statement of the Bank of England on monetary policy. We maintain our medium-term negative outlook on the stock markets in Europe.

Stock indexes of Asia-Pacific region showed an increase due to the improvement in investor sentiment in the United States. Japanese stocks were supported by the devaluation of the yen, which was positively displayed on the quotes exporters. Positive data on the construction sector in Australia, where the number of building permits increased by 7.5%, against an expected decline of 2.7%, also supported by investors. Despite the current growth, macroeconomic indicators in the region continued to deteriorate, and in the medium term will lead to a drop on the stock markets.

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