US stocks declined slightly yesterday, but generally positive sentiment remains unchanged. It is worth noting that GDP growth in the United States according to preliminary data for the third quarter grew only by 1.5% against an increase of 3.9% in the second quarter. The average forecast for this indicator was at 1.6%. At the same time, the number of initial unemployment claims in the US rose by 260 thousand, which was less than the forecast of 4. Today, special attention should be paid to the personal income and consumer spending in the US (12:30 GMT), which will support the growth of the bulls. We expect growth on the markets in the near future, but today there was a possibility of fixing position after strong growth in previous days.
European stock markets are consolidating around the previous close on weak statistics on the US GDP growth in the third quarter, which is holding back the growth. It should be noted that retail costs in Germany, in September has not changed despite the prediction of growth by 0.4%. Spain's GDP growth was 0.8% in the third quarter compared to 1.0% in the previous period. The median forecast was 0.9%. Today, a strong influence on the mood of investors will have news on the unemployment rate and the consumer price index in the euro area (10:00 GMT). We expect continued growth on the markets of the region in the near future and medium term.
Major stock indexes in Asia and the Pacific were moving in different directions. Chinese markets declined slightly in anticipation of important statistics on the manufacturing PMI, which greatly affects the dynamics of the indexes on Monday. It is worth noting a strong increase in volatility in Japan after the statement of the Bank of Japan, which would not widen the measures to stimulate inflation in the country. Core inflation rose to 0.9%, the highest rate since 1994. Household spending in Japan fell by 0.4% in September against the forecast of growth of 1.2%. On Monday we also should pay attention to statistics on manufacturing PMI in Japan and Australia. We maintain a medium-term positive outlook.