Investors started to doubt correctness of growth of stock indexes

Yesterday the stock market of the United States finished trading session with a moderate decrease in the main indexes, and the index of blue chips Dow Jones Industrial Average exceeded for the first time a level of 16 000 points. The Standard & Poor's 500 index, in turn, during session for the first time exceeded a level of 1800 points. Investors started to have concerns related to the ability of the markets to continue its rally up. 

Following the results of the trading session the indicator of blue chips Dow Jones Industrial Average raised on 0,09%% to level of 15976,02 points, the index of the wide market Standard & Poor's 500 decreased by 0,37%% to a level of 1791,53 points, and the index of high-tech industries of Nasdaq Composite went to a minus on 0,93%% and reached a level of 3949,07 points. Nasdaq lost much more than the other indexes, because the IT sector has been under strong pressure. In particular, Facebook and Twitter lost more than 6%% of capitalization.

The Asian markets following the American session bargained without essential dynamics. The index of the industrial companies of continental China in Hong Kong showed again increase over 1,00%%, and for three trading sessions grew already by 10,00%%. Meanwhile, has been published statistics which showed that growth of volume of direct foreign investments in China slowed down to 5,77%% in October from 6,2%% in September. In Japan, on the contrary, the market appeared under pressure because of strengthening of yen which is more expensive again and is on a level over 100 yens for dollar. Nikkei 225 closed trading session with a decrease of 0,25%% at a level of 15126,56 point s and Chinese Shanghai Composite lost 0,18%% reaching level of 2193,13 points.

The commodity market in many respects ignored the Chinese positive because of a proceeding rise in prices for real estate in the country. Growth in October on the average made 8,78%% in annual expression that can become a reason for the next drastic measures in the monetary policies. Gold again decreased in price, this morning winning a minus a bit back – adding 0,13%% and traded on a price of 1273,91$ per troy ounce.  Reserves of SPDR Gold Trust decreased by 4,2 tons to 864, 51 ton. This is a lowest value of reserves of fund since February, 2009 when incentives of FRS only were expected. However, price for a metal at that time was much lower, in the range of 900,00$ - 950,00$ for troy ounce. Brent down for 0,38%% at price of 108,06$ per barrel, WTI is down for 0,15%% at level of 93,54$ per barrel.

Today are going to be published current conditions and economic expectations of ZEW of Germany and Employment Cost Index in USA.

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