Stock Exchange failed to hold on to peak
Stock Exchange failed to hold on to peak, and late last week, under pressure from disappointing statistics on consumer confidence, as well as the growing credit risk, market swept corrective wave. Once again the focus of investors got problems with the duty of Greece, which today will be discussed in Europe, becoming the reason for the growth of demand for protective assets and the dollar. Commodity markets remain under pressure as because of doubts about the fundamental justification for current quotes of raw materials (especially in the context of the report EIA), and the strengthening U.S. currency. Oil in the morning was worth only $ 76.7 per barrel. Negative external background and the lack of meaningful statistic data in the coming days, likely will keep investors away from risky investments that will lead to profit-taking on the stock markets.
U.S. indexes lost about 1% in Friday trading, amid intensified capital flowing into defensive assets. The Dow lost 0.94%, falling to 10,609.65 subsection, SP - 1,08%, falling to 1,136.03 p. Since the beginning of trades under pressure proved to the banking sector. Despite the fact that reporting JP Morgan for the last quarter was better than expected, the head of Bank James Dimon noted that the return on capital, as well as the bank"s profit would be higher. Moreover, against the financial sector as a whole played a discussion of a new tax on banks receiving state aid, which was proposed by U.S. President Barack Obama.
The improvement in the industry, recorded in January, the New York Fed (the index Empire State Manufacturing), as well as statistics on inflation (0.1%) had no significant effect on the market. Meanwhile, the slowdown in the growth index of consumer sentiment, caused concern among the players for the further recovery of consumption in the country, which has become one of the reasons for the correction on today"s Asian trading.
With the beginning of the week for stock indices continued to remain under pressure as a result a series of weak makrostatistiki, published late last week, and jumped on the background of the Greek theme of credit risks. In addition to all this morning with worsening economic expectations contributed words of the South Korean finance minister, who said that it is too early to be optimistic with regard to economic recovery. As a result, capital continued to flow into the protective assets, contributing to the strengthening dollar and a further depreciation of commodity assets. MSCI Asia Pacific Index lost this morning with 0,6%.
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