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World markets  |  November 08, 2012 09:18:37

A brief summary of the U.S. markets on 7.11.12 - the phenomenon of "Obama's" correction


Trading day on U.S. exchanges was of course continue to influence decisions of American voters that the former President Obama credited repete function the next four years and thus de facto in lower numbers repeated situation from the time four years ago, when he was elected for the first time and Markets also reacted negatively (although at that time were probably in a different frame of mind and before the financial crisis).

Yet unanswered questions remain about the potential problems of a political compromise before the end of this year, which must be an agreement to amend the budget rules that, from 2013, did not start an avalanche of tax increases and cuts in spending under the previous scheme (ie "fiscal cliff"). Another factor, however, is the uncertainty around the new members of Congress and their behavior and relationships to individual business sectors in the U.S..

The deterioration in sentiment also contributed ECB president Draghi stating that the European debt crisis is starting to have a negative effect on Germany and its economy. In addition, the Commission issued a worsened outlook for GDP of the region as the EU and the euro area, for both 2012 and 2013.

In terms of sectors, it is clear that greater losses were recorded in finance, while Financials Select Sector SPDR ETF (XLF) lost 3.3% as Morgan Stanley and Bank of America fell 8.6%, respectively. 7.1%. Another weak point is in response to energy descent price of oil giants Exxon and Mobil, Chevron and Anadarko Petroleum surrendered about 2.2% -3.6%.Likewise, coal companies shares fell in response to the election of Obama and the Market Vectors Coal ETF (KOL) fell by 5.5%. On the contrary, the performance of the market retain titles hospital operators, which is also a consequence confirm the current president. Shares of these companies benefit from the adoption of the law. So gains in the order of 6-9% were no exception.

The macro data have been reported only with the number of mortgages index -5.0% vs. previous figure -4.8% and state consumer credit rose by 11.4 billion in September, compared to expectations of 10.6 billion USD.

Major U.S. stock indexes is significantly negatively responded with the following conditions: DJIA 12,932.73 points (-2.36%), Nasdaq Composite 2937.29 points (-2.48%) and SP500 1394.53 points (-2.37% ). In the case of the index DJIA is the worst day tr Volatility index VIX CBOE to enhance the $ 19.08, ie +1.50 USD, respectively. +8.53%.

On commodity markets, there was also a bust when oil ended with a loss of 4.6% to $ 84.50 and gold was only $ 0.40 at $ 1,714.10 below.The current view suggests that any further changes occur and oil is on course $ 85.05 per barrel and the price of gold is $ 1,718.50 per troy ounce. N Forex Cross Rates EUR / USD at 1.2764 limit.

Thursday Macro bring by economic calendar entries introductory requirements in unemployment expectations 370 thousand. (Ongoing requirements to be 3.25 million) and the state of the U.S. balance of trade deficit for September with numbers - 45.4 billion USD. In addition, you can add information about the monetary negotiations committee of central banks, particularly the ECB (result 13.45 pm) and the Bank of England (the result in 13.00 hours).Major actions on leaving the meeting this time is not expected.

Asian markets reacted negatively and trading in Nikkei Average ended -1.51% HangSeng is -2.31% and Shanghai Composite ended -1.63%.

Preliminary Indications U.S. futures tend to push up the pluses and DJIA +37.0 points, Nasdaq 100 +7.0 points and SP 500 +3,80 points.





Stručné shrnutí US trhů dne 7.11.12 – fenomén „Obamova“ korekce

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