Yesterday, the stock indices showed a weak near-zero dynamics and closed mixed. The Dow Jones declined by 0.16% (19855.53), S&P 500 has changed by 0.00% (2268.90), the Nasdaq rose by 0.36% (5551.82). Stock indices of the old world were growing in a single dynamic. The German DAX was up 0.17% (11583.30), British FTSE 100 grew by 0.52 percent (7275.47).
Today there are expected publications of the macro economic data and other events that could influence the actions of investors during the trading sessions.
At 12:30 MSK in the UK it will be published output in the manufacturing industry for November.
At 12:30 MSK in the UK it will be known in the trade balance for November.
At 18:30 MSK the U.S. it will be published data on crude oil inventories.
At 18:30 MSK the U.S. it will be published Data on excess reserves of oil in Cushing (Oklahoma).
At 21:00 MSK with his speech President Donald Trump.
U.K. continues to climb, started at the end of last year, and sets new records. The increase is due to the weakening of the national currency and the recent rhetoric Theresa May on the subject of the exit from European Union.
Yesterday's publication of macroeconomic data did not make much effects on the stock market of the United States. The index of comparable sales, Red Book, fell to 0.9%, also data on wholesale sales in November was worse than expected. As a result, the index of wide market S&P 500 tried to rise and in the course of trading exceeded the previous day's high, but closed at the level of start of the trading session in the upper part of the consolidation range. The Dow Jones also continued to move in the outlined back in December, the corridor, but showed a slight reduction. From a number of American benchmarks is highlighted the index of high-technology companies Nasdaq, which has been steadily increasing since the beginning of the year. The major part of the investors is waiting for the market reaction to the main event of this week – the first official speech of the new President of America Donald Trump, which will take place today at 21:00 MSK.
Of the main leaders of high-tech sector, we want to highlight the Internet search engine Yahoo!. Its market capitalization has been growing for the second week. Yesterday's rise in more than 2% due to the news that the Executive Director and also the founder of the company are going to leave from the Board of Directors. It is likely that growth will continue.
Crude oil futures for main sorts are strongly reduced for the second consecutive session. At the moment we can see the frustration of investors that have opened long positions with the expectation of growth after the conclusion of the agreement between the OPEC+ countries in Vienna. Now it is the reduction of excessive risks by covering of part of the positions. Despite the implementation of agreements of the reduction of production volumes, negative news about growth of stocks and production in the United States, as well as constant increase in active rigs make a pressure on the energy market. The energy information administration (EIA) reported Tuesday that U.S. oil production in 2017 will grow by about 110,000 barrels per day.
Sincerely, Global FX chief analyst Sergey Melnikov.