The US stock market yesterday showed an increase amid publication of strong statistics on the number of initial unemployment claims in the US, which fell to its lowest level since November 1973 and totaled 255 thousand. Analysts predicted that the figure will be around 270 thousand. At the same time, news on the growth of core consumer price index by 0.2% reinforced optimism on the market. Today, the dynamics of trading will be affected by the data on the volume of industrial production in September (13:15 GMT), the index of US consumer confidence from the University of Michigan (14:00 GMT) and the number of vacancies on the labor market. Our medium-term outlook for US indexes remains positive and we expect continued growth in the near future.
European stock markets show growth against the background of optimism associated with the positive statistics on the labor market and inflation in the United States. In addition, stabilization in China stimulates purchases. Today, negative for the markets have become the trade balance surplus of the euro area which reached 19.8 billion in August against the forecast of 22.2 billion. Yesterday, representatives of the ECB Nowotny said that inflation in the euro area remained below target levels and the ECB should use additional tools to stimulate inflation. We expect growth in the markets of the region in the medium term.
Markets in the Asia-Pacific region rose today against the background of the positive sentiment in the United States and strong corporate news. It should be noted that traders are in no hurry to open new positions in connection with the anticipation of an important report on the growth of China's GDP and industrial production in the world's second largest economy. Projected stimulation of economy of China and Japan supported the optimism on the market. According to our forecasts market growth will continue in the medium term, but we do not exclude the possibility of strong price movements in the near future.