On Tuesday, U.S. stocks continued growth which has begun Monday. Dow Jones industrial average added 0.46% (19974.62), S&P 500 up 0.36% (2270.76), Nasdaq closed with an increase of 0.49% (5483.94). European stocks also closed in the green zone. German DAX showed an increase of 0.33% (11464.74), British FTSE 100 gone up for 0.38% (7043.96).
Publication of important macroeconomic indicators will come mainly from America today and can have an effect on investors' decisions during the trading sessions.
At 00:35 MSK the U.S.A. is to release API Weekly Crude Oil Stock.
At 18:00 MSK the U.S.A. is to release Existing Home Sales for November.
At 18:30 MSK the U.S.A. is to release Crude Oil Inventories.
At 18:30 MSK the U.S.A. is to release Cushing Crude Oil Inventories.
Yesterday, despite on absence significant publications of macroeconomic data and despite on the treacherous terrorist acts in Europe, the growth of the global benchmarks continues. The events in Berlin and Ankara may only limit the growth, but are unable to stop him. The index of technology companies Nasdaq even rose to a new high 5489,47 during yesterday's trading session. Now the index moving in a narrow consolidation corridor 5424 - 5485, which remained after the closure, but the attempt to break it increases probability of continued growth in the near future. The index of wide market S&P 500 went up after a reduction of volatility within a few days. It also gives a good signal for a continued growing trend. Apparently, the rally of Santa Claus this year will be held. Investors have hope that the indices will reach new iconic levels together with Christmas. This is 2300 for S&P 500 and 20,000 for the Dow Jones.
Important news are coming from the oil market, they are able to push the rise in oil encodings which is under pressure now. Barack Obama has decided to limit drilling activity in the Atlantic shelf and in the Arctic on the basis of the law taken in 1953. Analysts believe that it was in response to appeals of environmental organizations. It is also expected that similar measures can be made in neighboring Canada as well. Also tonight, at 00:35 Moscow time, was published the results of the weekly report of the American Petroleum Institute, according to which crude oil stocks is strongly decreased by 4.150 million barrels. As reserves decline significantly, more than expected 2.500 million barrels, today it is possible to expect an upside movement in prices. As a reaction to these events early this morning in the Asian session, WTI is already trading with a gap up over $ 2 per barrel. Today, investors will continue to watch over reports of oil reserves.
Sincerely, Global FX chief analyst Sergey Melnikov.