US stock indexes showed yesterday a correction on the background of the lack of new drivers for growth and investors' fears about the future prospects of growth on global stock markets. Reduction showed the stocks of oil sector in connection with another drop in oil prices. Today, the course of trading will be affected by the data on the index of small business optimism in the US (12:30 GMT) and wholesale inventories in the US (15:00 GMT). The central event of the week is scheduled for Thursday, when will be released the data on retail sales and the labor market in the United States. Our medium-term outlook remains negative and we expect the correction on the markets of America.
European stocks declined yesterday amid falling shares of construction and energy companies. Negative for investors were also news from Asia, where Japan's GDP fell by 0.5% in Q3, while the Chinese imports decreased by 6.7%. International agency Standard & Poor's downgraded Italy's credit rating to BBB-. European markets have been supported by the news on improving investor confidence index of the Eurozone to -2.5 against -11.9 in November. Today, it is worth paying attention to the trade balance in Germany, whose surplus rose to 20.6 billion, which is 2.5 billion better than forecast. In the UK, will be published data on industrial production (09:30 GMT). We expect the correction in the markets over the medium term.
Markets in the Asia-Pacific region declined following the US indexes. The fall on the Japanese market has increased due to the strengthening of the yen. The Australian market continues to be under the pressure of low commodity prices and yesterday’s statistics on reduction of import in China. Tomorrow we should pay attention to inflation data in China. We recall that the main challenge for the region remains the crisis in the construction sector in China. The Fall of Japan's GDP by 0.5% in the 3rd quarter of this year also negatively affect the mood of investors. We maintain our medium-term negative outlook on most stock markets in the region.