The US stock market yesterday showed a drop due to lower oil prices. Positive statistics on new home sales, which rose to 512 million in February, in line with expectations, failed to change the negative sentiment on the market. Today, investors will be watching the news on the volume of orders for durable goods in the US (12:30 GMT). Activity on the market will be held back by waiting of the publication of the final report on the growth of US GDP for the 4th quarter. Today the decline may continue due to the negative dynamics of oil prices. Our medium-term outlook for the coming weeks remains negative.
European stocks showed a decrease due to lower commodities prices, which puts pressure on the stocks of the mining and oil and gas sectors. In addition, shares of companies related to tourism remain under pressure of risk of terrorist attacks in Europe. Today in the UK was published statistics on retail sales, which fell in February by 0.4%, against the forecast of decline by 0.7% and growth of 2.3% in January. British investors are afraid of the negative impact of speculation about a possible exit of Great Britain from the European Union structure. Our medium-term outlook for European markets remains positive, despite a possible correction in the near future.
Markets in the Asia-Pacific region declined today following of the US indexes. It is worth noting that the increase in the probability of the Fed raising interest rates negatively affects the prospects for the growth of stock indexes in the world. The weakening of the Japanese yen today could not change the pessimistic mood on the domestic market. Tomorrow will be published important data on inflation in Japan. In Australia today, is a day off, but tomorrow the indexes of the country probably will decline following the decrease in commodity prices. In the near future, the decline may continue but the medium-term outlook remains negative.