US stock indexes have shown growth in the last trading session of the week. Technological Nasdaq index updated a maximum for 15 years on the background of the positive statements of giants Google, Amazon and Microsoft. At the same time, growth was restrained by weak data on orders for durable goods excluding transportation component, which fell by 0.2%, indicating a reduction in investment companies. Today, little impact on the course of trading may have data on the service PMI (13:45 GMT). The main events of the week will be preliminary data on US GDP growth in the first quarter and the statement of the US Federal Reserve on Wednesday. We maintain our positive outlook for the medium-term, but do not exclude the fall of prices in the near future.
Major European stock markets were lower in early trading week amid growing fears of investors about the negotiations with Greek creditors on restructuring the country's debt. Import prices in Germany in March rose by 1.0%, which is 2 times more than the forecast. At the same time, the index of business confidence in Germany rose in April to 108.6, which is 0.7 better than analysts' forecasts. Eurozone’s economy has potential for growth due to the positive effect of the quantitative easing program and the weakening of the euro. In the UK today will be released the data on the balance of production orders (10:00 GMT), but the activity of investors will be restrained by expectation of tomorrow's publication of statistics on the growth of UK GDP. We maintain a positive medium-term outlook for the markets of the region, but note the risks associated with the Greek crisis.
Markets in the Asia-Pacific region are watching at the growth of indexes in China. Thus, the Shanghai market last week renewed a maximum seven-year despite the deterioration in economic growth of the country. The main driver of growth is the expectation of additional measures to stimulate economic growth. It is worth noting that the Australian market is also highly dependent on the state of the economy of China, which is a major consumer of Australian exports. We maintain a positive medium-term outlook for the markets of the region, but do not exclude the strong correction.