Analytics on 09/11/2017

On Wednesday, the stock indices showed a single positive dynamics and closed in green zone. The Dow Jones rose 0.03% (23,563.36), the S&P 500 rose 0.14% (2594.38), the Nasdaq added 0.32% (6789.12). European markets also showed positive dynamics. The German DAX rose 0.02% (13382.42), British FTSE 100 increased 0.22% (7529.72).

Today it is expected a few publications of the macroeconomic data and the speeches of the monetary authorities that could affect investors' decisions during the trading sessions.

At 09:45 MSK the unemployment rate in Switzerland in October
At 10:00 MSK trade balance of Germany in September
At 12:00 MSK monthly report of the ECB
At 13:00 MSK Speech by ECB member, Coeure
At 13:00 MSK the Economic forecasts of the EU
At 16:00 MSK Estimate of UK GDP growth from NIESR
At 16:30 MSK the Number of initial applications for unemployment benefits
At 16:30 MSK the price Index for new housing, Canada in September
At 16:45 MSK the Statement by the member of the ECB, Constancio
At 19:30 MSK and the speech of the Chairman of the National Bank of Switzerland Jordan
At 21:00 MSK the President of the Bundesbank Weidmann speaks
At 21:20 MSK the speech of the member of the ECB Lautenslager

Yesterday it was published the report of the board of economic advisers of Germany, there were indicated the results for the previous six months. It is said that the country is experiencing strong economic growth, which gives the opportunity for reforms aimed for further growth. In addition, the board increased the growth forecast for German GDP up to 2% this year and 2.2% for the next. Among corporate reports distinguished German energy company EON. Net profit of it for the quarter is to 3.71 billion euros, it is more than two times higher compared to net loss of 3.95 billion euros last year.

Outsiders in Europe were representatives of the financial sector on the background of statements of the largest French Bank Credit Agricole. It had a record rate of decline in quarterly profit, which fell for 43% down to 1.07 billion euros, while analysts on average had expected just 993 million euros.

In the United States the driver of market is also a corporate reporting. Among the favorites of the session is a computer game developer Take-Two Interactive Software, the capitalization of which increased by 10.9% due to higher forecasts for the current year. In addition, the market participants continue to pay attention to the negotiations on tax reform. There are the worrisome speculations that the reforms could slow down. There were published the news about the possibility of postponing the tax cuts on corporate profits until 2019 and the implementation of other targets of tax reform.

During the day oil quotations were corrected. The main reason is the official data from the US Department of energy said crude inventories rose 2.2 million barrels against the expected decline of 2.5 million barrels. But corruption a conflict in Saudi Arabia does not give prices to fall much. It became known that the there is a possibility of forfeiture of assets from those arrested, worth estimated $800 billion. The situation is perceived as strengthening the position of Saudi Arabia Prince Mohammed bin Salman, who supports the extension of the OPEC+ deal.