US stocks fell yesterday against the backdrop of the fall on the Chinese stock market, which was caused by the sale of shares of large banks, and due to the uncertainty regarding the debt restructuring in Greece. In the US, was published statistics on the number of initial unemployment claims, which has grown to 282 thousand, against the forecast of 271 thousand. Today, the dynamics will depend on the statistics on US GDP growth for the 1st quarter (12:30 GMT), which strongly affects the course of trading in the coming weeks. We also pay attention to statistics on manufacturing PMI of Chicago (13:45 GMT) and the index of consumer confidence in the US (14:00 GMT). Our medium-term outlook for US markets remains positive and we expect strong growth of volatility today.
Major European stock indexes do not show uniform dynamics. On the one hand growth of indexes is caused by the program of quantitative easing in the Eurozone and the fall of the euro, but investors fear a lack of consensus on a debt restructuring in Greece. British GDP showed an increase of 0.3% in the 1st quarter, which is 0.1% worse than expected. Retail sales in Germany rose by 1.7% against the expected 1.1% increase. Further dynamics of the indexes in the near future will depend on the development of the situation with the Greek debt, as well as statistics on the growth of US GDP. We maintain a positive medium-term outlook for the markets in the region.
The markets in the Asia-Pacific region ended trading session around the previous close levels. Investors were in no hurry to build up positions ahead of the release of important data in the United States. In Japan was published important statistics. Thus, household spending fell by 1.3%, core CPI rose by 0.3% in April, while industrial production in the country rose by 1.0%, which is 0.1% better than analysts' expectations. On Monday, the mood of investors will be influenced by statistics on the manufacturing PMI in Australia, Japan and China. Our medium-term outlook remains positive.