28.09.2015 - Markets are corrected after the rise during last week
US stock indexes showed no unified dynamics in the last trading session of the week on a mixed statistics. The final report on the growth of US GDP in the second quarter showed an increase of 3.9%, against an expected increase of 3.7%. At the same time, the consumer confidence index in September was 87.2, which disappointed investors. Today, the focus will be on the statistics on personal income and consumer spending in the US (12:30 GMT), as well as speeches of the Fed officials. The main event of this week will be the publication of statistics on the US labor market on Friday. We remain medium-term positive outlook for the market in the region, but in the near future we may see price consolidation around current levels.
The main European stock indexes showed strong growth on Friday due to optimism about the Fed raising interest rates. Investors ignored the weak statistics from China and positive about the outlook for economic growth in the EU due to the improved macroeconomic indicators and the program of quantitative easing in the Eurozone. Today, investors' activity has decreased due to the lack of important statistics from Europe. Strong price movements expected on Wednesday after the release of UK GDP for the second quarter and the labor market in the euro area. We keep medium-term positive outlook for the stock markets of Europe.
Markets in the Asia-Pacific region showed a different trend today. The Japanese index was under the pressure of strengthening yen. Last week, the reason for the growth was the meeting of Prime Minister and head of the Bank of Japan, which caused speculation about new measures to stimulate the country, but later it became clear that we should not expect new measures in the near future. Chinese investors are still concerned about the worsening of macroeconomic statistics in the country. We are waiting for the important statistics on the industry in China, which will be released on Thursday. Our medium-term outlook remains positive despite the current strong volatility on the markets.