American stock indexes declined slightly yesterday as investors concerns about the decline in exports to China by 10% annual in September. A slight positive was the news in the number of initial unemployment claims to its lowest level since 1973 - 246 thousand, which in the 6 thousand better than the forecast. Today a strong impact on the dynamics of trading will have data on retail sales (12:30 GMT). In addition, we should pay attention to the statistics on the index of US consumer confidence from the University of Michigan (14:00 GMT). Our medium-term outlook remains negative due to the pessimistic expectations for the season of corporate reporting in the US, as well as a possible tightening of monetary policy in the United States in December, which is negative for the US stock market.
European stocks today show growth against the background positive statistics on the growth of the producer price index in China that has supported mining stocks. Support for the European market was also the data on the Eurozone trade balance, the surplus of which amounted to 23.3 billion, compared with a forecast of 20.5 billion dollars. On the other hand, concerns about the prospects for the UK’s economy growth after was published the statistics on production in the UK’s construction sector, the volume of which fell by 1.5% compared to expectations of zero growth. We maintain our medium-term negative outlook and expect a correction in the near future.
Markets in the Asia-Pacific region today showed growth against the background of positive statistics on producer price index in China, which rose in September by 1.9% against the forecast of 1.6% and the previous value of 1.3% per annum. This fact supported the growth of quotes of local companies and commodity sector stocks worldwide. The comparable figure in Japan showed a decrease by 3.2% for the year, in line with expectations. On Monday will be published important data on industrial production in Japan. Despite the current positive, the risks in the region remain high. Our medium-term outlook is negative, but the Japanese market will be supported by the fall of the yen.