2013/11/04

The markets open month having made a good start

The Dow Jones index raised on 0.45%% to 15615.55 points, the gain in a week made 0.3%%. The Standard & Poor's 500 index raised on 0.29%%, having closed at the level of 1761.64 points, and having gained in a week just 0.1%%. The Nasdaq Composite index raised on 0.06%% to value of 3922.04 points, having lowered within a week on 0.5%%.

On Friday were published only one important macroeconomic news across the USA - an assessment of industrial activity in country scales for the last month. The index of economic conditions in the production sphere ISM, counted by Institute of management of deliveries of the USA, in October grew to the maximum value since April, 2011 having reached level of 56.4 points, then analytics were predicting decrease to 55.0 points from 56.2 points month before. This result became a pleasant surprise, considering all that situation which we could observe in October in connection with threat of a default. It should be noted that this index the 5th month in a row stays on a level above 50 points which testifies the increase in the sectors activity. The positive of the American industrial data was supported by higher, than it was expected, growth rates of industrial activity in China in October.

The commodity market is stagnating and major commodities are showing down going trend. The price of futures of gold on Friday fell for 10.50 dollars or 0.9%% to a value of 1313.20 dollars for troy ounce. This morning gold is traded on a price of 1312.28$. Gold lost in price owing to essential strengthening of positions of dollar in a basket of world currencies, mainly at the expense of EUR/USD currency pair. Factor that FRS in the final document of the last meeting didn't exclude possibility of reduction of volumes of buying up of assets in the current year also has been a significant factor, pushing gold down. As a total, gold for a week lost 2.9%%. Due to the falling of prices of gold, the world's largest gold-mining company the Canadian Barrick Gold lost 7.1%%, and the leader in the USA and only a part of S&P 500 index, Newmont Mining receded for 4.7%%.

The price of Brent is on a level of 106.30$ per barrel this morning, Light is on a price of 95.11$. Oil fell in price to minimum levels since June 21st, due to the strengthening of dollar and continuous growth of its stocks within last 6 weeks, according to data of the Ministry of Energy of the USA. Following the results of the 4th in a row unprofitable week "black gold" suffered losses of 3.3%%.

The upcoming week is the first week of new month, and therefore will be saturated with the key macroeconomic releases, capable to have considerable impact on the development in the stock markets and dynamics of the currencies.

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