11.11.2014 - US stock indexes had reached historical highs
US stock indexes yesterday showed slight growth on corporate reporting and speculation about the ability of the US economy to withstand reduction in GDP growth in the world. It is worth noting that in the coming days will not be published an important macroeconomic statistics, which can significantly affect the course of trading. Investors are waiting for results in sales during "Black Friday" before Thanksgiving. Today will be published data on the index of small business optimism. The growth potential of the market is limited, and we maintain a medium-term negative outlook on the US indexes.
European stocks yesterday showed growth on improved investor sentiment after fixation position in the previous trading session. Support for the market remains soft monetary policy of the ECB, which, through its programs fills markets with liquidity, which should positively be displayed on the stock indexes. Today in the euro area has not been published an important macroeconomic data and volatility will be minimal. Tomorrow we should pay attention to labor market data in the UK and industrial production in the euro area. Given the weak macroeconomic indicators in the euro area, we maintain a medium-term negative outlook on the stock markets in the region.
Markets in the Asia-Pacific region showed deterioration in investor sentiment. The exception was the Japanese market, which has shown strong growth amid weakening of the yen, as well as in connection with the publication of data on the balance of payments the surplus of which totaled 0.41 trillion against the forecast of 0.03 trillion, while the volume of bank lending increased growth rate in October to 2.4%, which is 0.1% better than the previous month. At the same time, the consumer confidence index fell to 38.9 in October, that is 1.0 worse than the previous figure. News of the signing of the agreement on free trade zone between China and South Korea did not greatly affect the market sentiment. We keep a medium-term negative outlook on Chinese and Australian markets and forecast growth of Japanese indexes in the medium term.