16.02.2015 - The US market has reached historic highs

US stock indexes showed a slight increase in the last trading session of the week and reached historic highs. The reason for the improved investor sentiment was the news on the growth of German GDP in the 4th quarter of the previous year by 0.7%, which is 0.4% better than expected. At the same time, investors were disappointed by the statistics on consumer confidence index which fell to 93.6 in February, compared with an expected 98.2. Today in the United States celebrate Presidents' Day. The central event of the week will be the publication of the minutes of the previous meeting of the Federal Open Market Committee of the US Federal Reserve. We maintain a positive medium-term outlook for the US stock market, but note the possibility of price correction in the near future.

January 13, 2015 USSPX Graph

European stock markets on Friday showed growth on the back of strong statistics on Eurozone GDP by 0.3%, which is 0.1% better than analysts' expectations, and in Germany, where the economy grew by 0.7% in the 4th quarter of last year, which is 0 4% better than analysts' expectations. At the moment, the German DAX 30 is near strong resistance level 11000. Today the positive for investors became the data on the growth of the Eurozone trade surplus to 23.3 billion, that is 2.0 billion better than analysts' expectations. Tomorrow trading dynamics will depend on the news from the Summit of Ministers of Economy and Finance of the European Union and inflation data in the UK. We maintain a positive medium-term outlook for European markets, but note the risks associated with the Greek crisis.

Markets in the Asia-Pacific region showed moderate growth on the background of positive statistics from Japan and China. Thus, Japan's GDP growth in the 4th quarter of the previous year was 0.6%, which is 0.3% less than the forecast of analysts, but much better than a 0.5% decline in the previous period. In China was published the data on foreign direct investment, the volume of which in January increased by 29.4%. The Australian market was supported by the growth of commodity prices. Chinese stock markets will be closed from 18 to 24 February on the occasion of New Year. Japanese investors expect the statement of Bank of Japan on monetary policy on Wednesday, at which may announce slowing monetary stimulus. We maintain a positive medium-term outlook for the stock markets in the region, but do not exclude the correction in the near future.

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