US stocks fell yesterday, before the unofficial start of the US corporate reporting season. According to forecasts, the company's profits will decline by 7,7-9,0% in the first quarter of this year, which will be the third consecutive decline in profits of the companies', which are included in the S&P500. Today, the support for the market of the country will be the rise in oil prices. Optimism Index in small businesses fell in March by 0.3 to 92.6. The investors are in no hurry to accumulate positions ahead of tomorrow's publication of important statistics on retail sales in the US. After the completion of the current consolidation, we expect to see a strong movement. Our forecast for next week remains negative.
European stocks showed a positive dynamics on optimism associated with the increase in oil prices, before a meeting of some members of OPEC and Russia in Qatar that will take place this Sunday. It is worth noting that today, was published data on the consumer price index in the UK, which rose to 0.5% in March vs. expected 0.3%. The increase in inflation should support the optimism of the country markets, but on the other hand in the coming months, the European indexes are under the pressure of the expected referendum on Britain's membership in the EU. Tomorrow we should pay attention to data on industrial production in the euro area. We maintain our positive medium-term outlook for the region's markets, despite a possible drop in the coming months.
Markets in the Asia-Pacific region positively finished trading session with the exception of the Shanghai market. It is worth noting that the slight weakening of the yen, as well as the statement by the Minister of Finance of Japan about the possibility of dealing with speculative growth of the yen supported the Japanese market. Chinese investors are waiting for the publication of important data on the trade balance tomorrow and GDP and industry growth of the country on Friday. Australian assets was supported by increase in gold and oil prices, as well as the positive statistics on the index of business sentiment in Australia, which rose to 6 in March, compared to 3 in February.