Major U.S. stock indexes fell slightly yesterday. Investors are cautious about the prospects of further growth due to lack of drivers for new purchases. Investors were disappointed with the falling index of mortgage applications by 1.2% against the previous growth of 0.9%. Negative for the market was a fall in oil prices. Today we should pay attention to data on the number of unemployment claims, GDP growth in Q1 and pending home sales. Growth of indexes may continue in the medium term, but we maintain a negative outlook on the U.S. market.
European indexes have not changed much yesterday. Negative for investors was the statistics from Germany, where the number of unemployed increased in May by 24 thousand compared with an expected reduction of unemployed by 14 thousand. It is worth noting that the unemployment rate in Germany is at the lowest level in more than 20 years. Further growth is constrained by the market expectation of new measures to deal with low inflation in the Eurozone and the tense situation in Ukraine. Today we expect low activity of traders in connection with a holiday in France and Germany. We maintain a long-term negative outlook for European stock markets.
Markets in the Asia-Pacific region ended the trading session near the previous close. The Japanese market rose slightly despite the drop in retail sales by 4.4% in April that is 1,2% worse than expected. Chinese markets are supported by interventions of the central bank, which are aimed at increasing the market liquidity. In addition, investors reacted positively to the news of the prohibition of the use of more than 6 million cars that are heavily polluting the air. The Australian market continued to fall against decrease in price of iron ore in China to 96.80 dollars per ton. We maintain a long-term negative outlook for the markets of China, Japan and Australia.