US stock indexes declined slightly after had reached historical highs. The reason for the decline was the drop in shares of the technology sector, as well as the minutes of the previous meeting of the Fed. In the protocols was noted the risks associated with inflation, and economic problems in Europe, China and Japan, which may lead to slower growth in the US. Housing market data have been mixed. Thus, sales of new homes declined to 1.01 million, while the number of permits for construction of new homes rose to 1.08 million. Today we should pay attention to data on the US labor market, the consumer price index (13:30 GMT) and the index of leading US economic indicators (15:00 GMT). We maintain a medium-term negative outlook on the US market.
European stock indexes ended the trading session near the previous close levels amid expectations of the publication of minutes of the previous meeting of the Fed. Positive was the growth in the trade surplus to 30.0 billion, against the expected 21.3 billion. It is worth noting that in the Bank of England, there is no consensus regarding the parameters of monetary policy, and 2 of the 9 members of the Monetary Policy Committee supported the idea of raising interest rates to 0.75% due to the expected rise in inflation above the target level of 2.0%. The manufacturing and service PMI, which fell to 50.4 and 51.3 respectively, has led to a decrease in the indexes. Today will also be published statistics on retail sales in the UK (09:30 GMT) and the index of consumer confidence in the Eurozone (15:00 GMT).
Markets in the Asia-Pacific region do not show a single dynamic. Chinese indexes are under the pressure of weak data on China's manufacturing PMI, which according to the HSBC fell to 50.0 in November against 50.4 in October. Japan's trade deficit in October was 0.98 trillion yen that is 0.04 trillion better than the forecast. It is worth mentioning Japan's growth of exports to the levels of 2008 year, that was due the fall of the yen. Australian investors are watching the data from China and the fall in iron ore prices that continue to put pressure on the quotes of raw materials companies. We remain negative medium-term outlook for the markets of the region except the Japanese.