23.11.2015 - The first day of the week promises to be calm
The US market showed a slight increase at the end of last week, which was due to positive corporate news. It is worth noting that 96% of companies that are in a broad equity index S&P500 published reports for the 3rd quarter and 75% of the results of the profit that exceeded expectations. Today, the dynamics of trading will be affected by the irregular statement of the Fed, as well as news on the manufacturing PMI in the USA (14:45) and existing home sales in the USA (15:00 GMT). Investor activity will be constrained by the expectation of the statistics on US GDP growth in the 3rd quarter. We expect growth on the markets in the near future, but its potential is reduced.
Major European stock indexes finished the last trading day of the week with a slight change and continue similar trend at the beginning of the week. It is worth noting that data on manufacturing and service PMI in the euro zone, which have improved in November to 52.8 and 54.6, against the previous level of 52.3 and 54.1, could not improve the mood of investors. Tomorrow, on the dynamics of trading will affect the GDP data in Germany. Today, volatility is reduced. We maintain a positive medium-term outlook due to the expected easing of monetary policy by the ECB on 3 December.
Markets in the Asia-Pacific region today fell amid uncertainty in the US stock markets and the completion of the corporate reporting season, after which the market requires new drivers for growth. Today in Japan is the day off. The Australian market is pressured by low commodity prices. Thus, the price of copper fell to its lowest level in 6 years. It should be noted that copper is used in the high-tech sector and a fall in prices indicates a weakness in the sector. We remain medium-term positive outlook, but its potential was reduced on the markets of the region.