On Monday, the stock indices of the United States continued to show a positive upward trend. Dow Jones rose 1.58% (25709.27), S&P 500 increased 1.18% (2779.60), Nasdaq rose 1.15% (7421.46). The European markets grew in uniform dynamics and closed in a green zone. The German DAX added 0.35%(12527.04), British FTSE 100 rose 0.62% (7289.58).
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 00: 45 MSK New Zealand trade Balance
- At 11:40 MSK the speech of the ECB representative Mersch
- At 13:00 MSK Speech of the President of Bundesbank Weidmann
- At 16:00 MSK the consumer price Index (CPI) of Germany
- At 16: 30 MSK Base orders for durable goods United States
- At 16:30 MSK Speech of the fed Chairman, Mr. Powell
- At 16:30 MSK foreign trade Balance in goods, U.S.
- At 17:00 MSK Composite home price index S&P/CS Composite-20 not seasonally adjusted
- At 18:00 MSK the Index of consumer confidence USA
Yesterday, European markets closed with growth, in which the main contribution was made by paper of mining companies and technologies.
The overall positive background for both European and US markets is created by the fact that the yield on 10-year US Treasury obligations has changed the trend and is no longer striving up, but is beginning to decline now to 2.86%.
Despite the negative statistics, trading on US stock exchanges on Monday began to rise. Sales of new buildings in the US last month compared to the previous month decreased by 7.8% or to 593 thousand houses. The value of the indicator is at the minimum since August last year.
Investors are still in uncertainty about the fed's future policy, which will be provided by the new head of regulator, Jerome Powell. Now the confidence of market participants in raising the key rate on March 20 reaches almost 100%. This step of the regulator has already been incorporated into market prices. The main concern is the possible higher rate of tightening of monetary policy. It is expected that today's speech will shed light on further steps. There is reason to believe that it will cause optimism in the market, on the basis that Jerome Powell before taking office said that he is not a supporter of radical measures.
Stopping oil production at the El Feel field in Libya, gave an additional impetus to the growth of value. Also, the purchases were facilitated by the comments of the Minister of oil of Saudi Arabia on the continuing decline in world reserves. But in the second half of day growth of quotations has stopped and prices have moved to decrease due to concerns of overproduction of the fuel in the United States. But there is a possibility that the turn down will not follow after that, purchases are supported by news from Papua New Guinea about the earthquake, which led to the suspension of some oil companies.