The US stock market continues to show low volatility. Indexes ended the trading session yesterday near the previous close. The data on the growth in the number of initial unemployment claims in the US did not strongly influence the course of trading. Thus, the figure rose by 290 thousand, against 278 thousand previously. Today we should pay attention to the retail sales data (13:30 GMT), the consumer confidence index (14:55 GMT) and business inventories (15:00 GMT). At the moment, we can see the weakness of bulls and expect a decrease of indexes in the medium term.
European stocks rose slightly yesterday after declining the previous day. Negative for the market was the data from China, where industrial production growth slowed by 0.3% in October to 7.7%. Today, the central event of the day will be the publication of statistics on GDP growth in the euro area in the 3rd quarter (10:00 GMT). Germany's GDP grew by 0.1%, in line with analysts' forecasts, and French GDP grew by 0.3%, which is 0.2% better than the forecast. Also we recommend to pay attention to the data on the volume of production in the construction sector. It is worth noting that investors fear the worsening situation in the east of Ukraine, which could lead to a sharp drop in the index. We maintain a medium-term negative outlook for European markets.
Indexes of the Asia-Pacific region show mixed dynamics. The Japanese market is growing due to the fall of the yen, as well as on expectations of an application for postponement of raising the sales tax in the country from October 2015 to a later period. Chinese and Australian markets are under pressure yesterday's data on slowing the industrial growth in China to 7.7% in October against 8.0% in the previous month. The next week is expected the increase of volatility in connection with the publication of data on the GDP of Japan and the publication of minutes of the previous meeting of the Reserve Bank of Australia. We maintain a medium-term negative outlook for the Australian and Chinese markets, but expect growth of indexes in Japan.