Markets start to move carefully before meeting of FED

In the stock markets proceeded careful growth. In the morning of the quotation of risky assets were supported by data on growth of the Chinese export in November for 12,7%% after growth of 5,6%% in October. These data were regarded not only as positive for the economy, but also as the testimony of growing world demand. It should be noted also that investors don't hurry to draw conclusions about earlier beginning of turning of stimulating measures from FED after obtaining strong data on gross domestic product of the USA for the III quarter and strong statistics on the American labor market in November. So, the index of the wide market S&P 500 reached yesterday a new historical record.

As a result of the trading session, Dow Jones increased for 0,03%% up to the level of 16025,53 points; Nasdaq added 0,15%% and reached level of 4068, 75 points; S&P 500 increased for 0,18%% up to the level of 1808,37 points.

Yesterday markets also received opinion from two representatives of FED, both of them were relatively positive. In a little more positive for the markets context there was a statement of head of FED of Saint Louis, James Bullard, who in the current year has the right to vote at meetings. He reported that the last improvements on a labor market increase probability of fast reduction of stimulating measures, however these actions have to be careful as inflation is at minimum levels. Statements of head of FED of Dallas, Richard Fischer, who will acquire a vote for FOMC next year were surer. He called the current time suitable to start turning of volumes of QE, however explained that any operations of the regulator have to proceed in the conditions of full clarity and transparency for the markets.

According to recent polls of Bloomberg about 34%% of economists and analysts expect the beginning of turning of volumes of quantitative incentives at December meeting, thus the vast majority is sure that at the end of the I quarter 2014 the volume of purchases of assets from FED will be less from current 85 billion dollars a month.

The beginning of new week in the commodity markets passed negatively, pressure on which has been amplified due to a number of the objective reasons. Quotations of oil and the majority of metals yesterday considerably decreased after the publication of statistical data from China and Germany. The volume of import to China in November slowed down growth rates from 7,6%% to 5,3%% in annual expression. Besides, industrial production volume in Germany in October unexpectedly decreased to minimum since May values, having fallen for 1,2%% in September at forecasts of growth for 0,9%%. Additional pressure upon oil quotations was put by the first meeting which has begun in Vienna of experts of Iran and "six" countries concerning development of mechanisms of implementation of the interim agreement reached at the end of November.

Brent is traded on a level of 109,63$ per barrel adding 0,45%%, WTI is on a price of 97,95$ per barrel increasing for 0,40%%. Gold is up for 0,87%% at price of 1244,98$ per troy ounce, silver is trying to get back what has been lost last week and is up for 1,22%% at a price of 19,94$ per troy ounce.

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