According to the report of the OECD, in the 3rd quarter of this year, the world economy has shown growth better than in previous period. The reason for this trend was the economic recovery in the euro area and the lower rate of decline in Japan. The report states that the GDP of the G-20 increased by 0.9%, against 0.8% in the second quarter. It is worth noting that the euro area GDP grew by only 0.2%. According to analysts growth rates will not accelerate in the near future, and indicators in the Eurozone and the UK and Russia will deteriorate. In connection with the forecasts of analysts and deteriorating investment expectations, we maintain a medium-term negative outlook on the stock markets of America.