US stock indexes rose slightly yesterday, despite the pessimism caused by the news of downed Russian warplanes near the Turkish-Syrian border. Yesterday was published preliminary data on US GDP growth, which in the third quarter increased by 2.1% that is 0.6% better than the previous estimate. At the same time, the consumer confidence index from the Conference Board in November fell unexpectedly to 90.4 against expectations of 99.1. Today, the focus will be on the news on durable goods orders, personal income and consumer spending in the US (13:30 GMT). It should be noted that tomorrow in the US will celebrate Thanksgiving Day and the markets will be closed. Our medium-term outlook remains positive.
European stocks fell yesterday after reports of Russian warplanes shot down by Turkish fighter, which has led to the sale on the market, but this influence was temporary and today indexes recovered losses. It is worth noting that the increase in Germany's GDP in the third quarter was 0.3% compared to the previous quarter. The main driver of growth was the domestic demand. Tomorrow activity will be weak due to the holiday in the US. Investors will not rush to accumulate positions before the statement of the ECB on monetary policy on December 3rd. Our medium-term outlook remains positive.
Markets in the Asia-Pacific region showed different dynamics. The Japanese market was negatively affected by the strengthening of the yen due to increased demand for defensive assets due to increased tensions in the Middle East. The minutes of the meeting of the Bank of Japan noted the expected achievement of the inflation target of 2.0% at the end of 2016 or early 2017. In China and Australia grew stocks of defensive complex companies. Rising commodity prices supported the Australian market. We keep medium-term positive outlook for the indexes in the region.