After powerful growth of key stock indexes in second half of July, the optimistic spirit in the market is kept. Thus the bull moods among investors prevail, even despite the statistical data confirming delay of economic growth in the USA, and the high energy prices.
But yesterday's macroeconomic data over the first world economy were at a level of expectations, or exceeded experts’ forecasts.
Let's remind that data about dynamics of personal incomes and spending of Americans in July supported investors’ moods. According to the survey, personal incomes in the USA made +0.5 % for July, at the forecast of +0.5 %, and the previous value of +0.6 %.
Personal spending in the USA for July reached a maximum level since January, and made +0.8 %at the forecast of +0.7 %, and the previous value of +0.4 %.
Another parameter – jobless claims in the USA made 316 thousand for a week by August, 26th, at the forecast 315 thousand. And the previous value is revised from 313 thousand up to 318 thousand.
Chicago Purchasing Managers' Index in the USA made 57.1 for August, at the forecast 56.5, and the previous value 57.9, also having been better than the expected level.
One more very important indicator for investors - index of factory orders in the USA made -0.6 % for July, at the forecast -0.6 %. And the previous value has been revised from +1.2 % up to +1.5 %.
Thus help-wanted index in the USA made 33 for July, at the forecast 33. And the previous value is revised from 33 up to 35.
However, the main thing for investors became that fact that PCE index describing a rise in prices in the consumer market more precisely than CPI, rose 0,1 % in July without taking into account food and energy prices.
Let's remind that a rise in prices in a core component was predicted by 0,2 %. As a result for a year the core component of consumer prices raised 2,4 %, instead of 2,5 % as experts expected.
As a result, the issued data not only did not strengthen those positions who waits from FRS increase of a discount rate at following meeting on 20-th of September, but also raised even greater doubts around this question.
From corporate news it is necessary to note growth of quotations of papers of one of the largest food companies of USA HJ Heinz.
According to the quarter results of activity of the company the quarter profit grew more than it was expected, and in the morning tenders Heinz quotations added about 1,5 %.
Besides the situation in energy market still influences much on the world stock markets. So, after refusal of Iran to stop uranium enrichment oil quotations were consolidated after Friday recoil yesterday above a level of $ 70 for barrel.
The anxiety because of a situation in the Near East forces oil traders to hold long positions.
Let's remind that Iran did not execute the requirement of the United Nations to stop uranium enrichment till August, 31st. The United Nations can react to it by application of sanctions concerning the country that strengthens investors’ fears about breaks in oil supply from the fourth state in the world on volume of oil export.
At the same time, while in the market there is observed sufficient oil supply. Stocks of oil and petroleum in the USA rose the last week contrary to analysts’ expectations, showed the data of Energy Information Agency of the USA on Wednesday.
As a result Dow-Jones index of New York stock exchange fell 1.76 points and was closed at a level 11381.15. NASDAQ index dipped 1.98 points and is at a level 2183.75. S&P 500 index was down 0.46 point and is at a level 1303.81.
And 30-years US Treasury notes’ yield fell 0.034 in comparison with the previous closing and makes 4.878.
We recommend to adhere to our former recommendations: to buy futures for Dow-Jones and S&P 500 indexes after realization of descending correction and achievement of the mentioned levels.
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