American stocks fell yesterday after strong growth in the previous trading session. Investors watched inflation data expected to reduce its level due to the fall in oil prices, but the index showed an increase of 0.1%, while analysts expected a lack of growth. Today, market dynamics will depend on the data on the labor market (12:30 GMT) manufacturing PMI (13:45 GMT) and the index of leading economic indicators. We maintain a medium-term negative outlook with the potential of fall near 10-15%.
European stock markets closed yesterday's trading session with growth amid speculation on positive expectations from the stimulus measures by the ECB. This improvement is offset negative sentiment from weak corporate financial statements. Today the course of trading will be affected by data on the manufacturing and service PMI, which rose to 50.7 and 52.4 respectively. Today we should also pay attention to the index of consumer confidence in the Eurozone (14:00 GMT). Tomorrow will be the focus of on the publication of stress tests of European banks. Today, we can see continued growth, but despite this the Eurozone economic indicators remain weak and we keep the medium-term negative outlook.
Markets in the Asia-Pacific region have completed today's trading session lower due to the deterioration in investor sentiment in the United States, which was associated with weak corporate reporting. In addition, traders decided to take profits after yesterday's strong growth of quotations. The index of business sentiment in Australia remained at 6. It should be noted that the manufacturing PMI in Japan in October rose to 52.8, which is 0.7 higher than predicted by experts. The similar indicator in China which is calculated by HSBC increased to 50.4, which is 0.2 better than forecast. Tomorrow we should pay attention to the index of leading economic indicators in China. Given forecasts of slowdown in global economic growth and the negative expectations of investors, we maintain a medium-term negative outlook for the markets in the region.