The Positive Background Supports The Markets

The American stock market continues to get positive impulses, which helps it to recover from the losses obtained in the beginning of February. Yesterday, for the first time in her career, Janet Yellen gave a speech in front of the Congress of the USA as the new head of FED. Yellen confirmed that she is going to continue to stick to the plans of Bernanke, and the volume of the program of purchase of assets will be gradually reduced. At the same time, interest rates will not change, even if the unemployment rate is going to reduce below the threshold value of 6.5%.

Following the results of the trading session, the indicator of blue chips, the Dow Jones Industrial Average index, increased by 1.22% to the level of 15994.77 points, the index of the wide market S&P 500 added 1.11% in value, reaching the level of 1819.75 points, and the index of the hi-tech companies, Nasdaq, grew by 1.03% to a level of 4191.04 points.

Morning news coming from China also brought positive moods to the markets. Accordingly to the published macroeconomic statistical data, export in January increased by 10.6% which was 0.1% higher than forecasts, and import grew by 10%, which allowed China to expand surplus of trade balance. These are very important figures, which, in the short-term prospect, could have an influence on the situation in the emerging markets.

The situation in the commodities market remains to be stable, and is developing in a positive direction. Prices of oil are increasing by 0.03% on Brent, and 0.47% on WTI, traded on 108.21$ and 99.91$ accordingly. Gold and silver are slightly losing, 0.19% and 0.01%, bargaining next to the levels of 1287.41$ and 20.15$ per troy ounce.

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