US stock indexes showed mixed trends. Investors continued to assess the Fed statement. Negative for the market was the news on the growth of the US current account deficit to 113 billion dollars in the 4th quarter, which is 10 billion worse than analysts' forecasts. Volatility in the near future will be much lower due to the lack of publication of important macroeconomic data. On the last trading day of the week, investors will fix positions. We maintain a positive medium-term outlook for the US stock market, but note the current reduction of growth potential.
European stock indexes ended the trading session on Thursday near the previous close levels. Investors reacted positively to the news about the likelihood of a later increase in interest rates by the Fed. On the other hand, analysts note the positive effect from the start of the program of quantitative easing. During the third round of the program TLTRO banks attracted 97.8 billion euros at low interest rates. The balance of payments surplus in January totaled 29.4 billion, against the expected 21.3 billion. According to our estimates, the growth on European equity markets will continue in the near future, but the Greek crisis continues to be a serious risk for the continuation of an upward trend.
Markets in the Asia-Pacific region shows a different direction of indexes. The weakening of the yen resumed quotes that supported exporters in Japan. Most of the major Japanese corporations plan to increase wages in response to the request of Prime Minister of Japan, according to which, this step will increase consumer spending. Chinese investors are waiting for the release of statistics on business activity in the manufacturing sector in China, which will be published on Tuesday. We expect continued growth in the region's stock markets, but note the risks associated with the slowdown in the Chinese economy.