US stocks yesterday showed growth on the Fed's statement on monetary policy in which there was an increase in the labor market and weak inflation. At the next meeting, which will be held in September, the Fed may decide to raise interest rates, which will be negatively displayed on investors’ sentiment. It is worth noting that corporate reporting of about 75% companies from the index S&P500, which have already reported, showed better results than expected. Today is forecasted the rise in volatility after the release of preliminary data on US GDP growth in the second quarter (12:30 GMT). Our medium-term outlook remains positive, but the growth potential is limited by historical highs.
European stocks yesterday showed growth on the back of positive corporate reporting and reduction of tension associated with the fall of the Chinese stock markets. The program of quantitative easing in the euro area continues to support investor interest in European assets. Today was published preliminary data on GDP growth in Spain, which totaled 1.0% in the second quarter, which is 0.1% worse than forecast but better than the previous value of 0.9%. At the same time, the number of unemployed in Germany rose by 9 thousand, against an expected decline of 5000. Further movement on the markets will depend on the data on US GDP growth and sentiment of US investors. We expect growth on the markets of the region in the medium term.
Markets in the Asia-Pacific region showed different direction of movement of the indexes. The Chinese market continued to decline amid fears of investors about a bubble on the stock market in the country and weak stimulation of purchases of shares by the Chinese authorities. It is worth noting that the volume of industrial production in Japan in June increased by 0.8%, against an expected increase of 0.4%. This fact, together with the weakening of the yen and positive corporate news pushed up the Japanese index. Tomorrow we should pay attention to a large block of macroeconomic statistics from Japan. We expect growth on the markets of the region in the medium term.