US stock indexes continued to rise yesterday after the publication of a number of important reports that have increased optimism on the market. Thus, the volume of orders for durable goods remained unchanged, despite the expected decline of 0.6%. Personal income and spending rose by 0.3%. Sales of new homes in November totaled 490 thousand, which is less than the expected 507 thousand. It is worth noting that the index of US consumer confidence rose to 92,6, which is 0.5 better than expected. Support for the market was the increase in oil prices due to a decline in US inventories. Today, the activity will be reduced before the long weekend. The dynamics of trading may be slightly affected by the data on the number of unemployment claims (13:30 GMT). Our medium-term outlook remains positive, but in the near future decline may resume.
European stocks today show low volatility after a strong growth yesterday. It is worth noting that in Germany today, is a day off and tomorrow major European markets also will be closed. It is worth noting weak statistics for GDP growth in the UK in the third quarter, which according to the final report grew by 0.4%, which is 0.1% less than the previous estimate, but despite this, investor sentiment has improved due to the better data on balance of payments deficit which totaled 17.5 billion against the expected 21.3 billion. We expect growth on the European markets in the medium term.
Markets in the Asia-Pacific region showed different dynamics in spite of the strong growth in the United States. The Japanese stocks were negatively affected by the strengthening of the Japanese yen. It should be noted that the Cabinet of Ministers approved the draft state budget of about 799 billion US dollars, that is 3.14 billion more than in the previous year. Rising oil prices supported shares of commodity companies. Tomorrow in Japan will be published statistics on unemployment, inflation and the number of housing starts. Activity on the market will be low due to the holidays in Europe and the USA. Our medium-term outlook for the market in the region remains positive.