Participants of the markets are again beginning to worry about the possible turning of the stimulating programs by the FED in the USA possibly in December, due to the improvement of statistics on the American labor market. The American indices closed the third trading session in a row in "the red zone". The negative is connected with the recognition of that the city of Detroit could become, on an official basis, bankrupt, and it creates precedent for other cities as well.
As a result, the Dow Jones index lost 0.59% and dropped below the level of 16000.00 to 15914.62 points. S&P decreased by 0.32% to a level of 1795.15 points, giving up the psychologically important level of 18000.00 points. Nasdaq appeared in a minus for 0.19% at the level of 4037.20 points.
Asian stock markets mainly stayed in the negative territory, following the American indices as important statistics, which could've given support to Asian platforms, weren't published. It should be noted that the Chinese Shanghai Composite index shows strengthening of positions, despite statements of the Chinese leader Xi Jinping that target indicators of growth of the economy next year could be lowered to 7%, from the present 7.5%. Support to the Chinese Shanghai Composite is given by the publication of the index of business activity in the services sector according to the HSBC version, which showed an insignificant decrease to 52.5 points.
Oil quotations on Tuesday showed growth waiting for the meeting of member countries of OPEC, moreover, “black gold” is supported by news regarding the fast start of part of the Keystone Oil pipeline in the USA. Meanwhile, the minister of Oil of Libya, Abdulbari Al Arusi, declared on Wednesday that the country will restore Oil production in full, within 10 days. This news could put pressure on Oil prices, which managed to increase during the trading session yesterday.
Brent managed to increase to the level of 112.24$ per barrel, adding this morning 0.09%, WTI is leading with an increase of 1.15% up to the level of 97.34$ per barrel.
This week markets are waiting for important macroeconomic data on November unemployment, and the revised data on gross domestic product in the USA for the third quarter. Moods of investors will depend on that data for the near-term outlook. Also, today figures on Oil stocks in the USA will be published.