2013/11/21

The minutes of FOMC damped an ardor of the markets


On Thursday, the American market finished trading session with a moderate decrease. If at the beginning of the session we could observe speculative purchases supported by published data on inflation and Ben Bernanke's "soft” comments, after an exit of protocols of last FED meeting - market handed over positions and went to a minus. In the protocol of the last meeting of FED was stated that the Central Bank expects improvement of a macroeconomic picture, which in turn gives the grounds for reduction of the program of quantitative easing. The president of FED of Saint Louis, James Bullard, in his speech also noted that the question of reduction of monthly purchases is already in the agenda of the meeting in December.

The macroeconomic indicators which have been published yesterday were of the mixed character as well. On the one hand consumer inflation made 1,7%% that below a target rate of inflation required by FED, and sale of houses in the secondary market decreased by 3,2%% to 5,12 million, but on the other hand, retails showed growth by 0,4%% at average expectations of 0,1%%. Production stocks increased by 0,6%% at average forecasts of 0,3%%.

As a result, the indicator of "blue chips" the Dow Jones Industrial Average index decreased for 0,41%% to a level of 15900,82 points, the index of the wide market S&P 500 went down for 0,36%% to level of 1781,37 points, and the index of the hi-tech companies Nasdaq receded for 0,26%% to a level of 3921,27 points.

Commodities also continued to fall, price of oil is decreasing this morning for 0,34%% on Brent and 0,30%% on WTI traded on 107,69$ and 93,57$ per barrel accordingly. Gold and silver are significantly down, with gold losing 0,93%% at level of 1246,29$ and silver down for 0,85%% at price of 19,89$ per troy ounce.

From the statistics which is going to be published today it is worth paying attention to the PMI indexes in production sector and sector of services of the Eurozone and Germany in particular, and production PMI in the USA. Also will be published data on primary requests for an unemployment benefit in the USA, and the bank committee of the Senate of the USA will vote for Janet Yelen's candidate as the new head of FED in the USA.

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