Grant Capital (Grant Capital)
Markets  |  November 16, 2012 21:51:17

U.S. Markets - recap the past, 46 week, and the outlook for the week from 19 11th

This week's events:  

46th week continued in the spirit of the previous week and the markets have weakened further.The main reason for the decrease were mainly fear of approaching fiscall clif, ie jump cuts and tax increases in the budget, which should occur at the end of the year if there is no agreement between Republicans and Democrats, which leads to a solution to this situation. The question of agreement between Democrats and Republicans arouses strong nervousness in the markets, as the parties are known to have different opinions on its solution. The markets lost nearly a whole week. On Friday there was a meeting of representatives of both parties of Congress and the President. After this meeting, both parties argued that it was a constructive meeting, and they believe in compromise. He was also the deadline set for the resolution and by Christmas. After this announcement, the markets calmed down slightly on Friday and indexes for the first time this week strengthened.
From the perspective of macrodata week did not bring too positive. Among the surprises was growth in the number of applications for unemployment and partly the growth of consumer price index, which can give rise to concerns about the possible impact on inflation. The decline in industrial production and capacity utilization mood also added too.
From a technical perspective, the S & P 500 touched supportní boundaries in the form fibbonaci 61.8% retracement of approximately 1345 points, from where it bounced slightly on Friday. The Dow Jones fell slightly below the level of 12,500 points, but closed well above it.
Further development of the market will probably depend largely on the above-mentioned meeting, or on reports coming from the European bloc.
Price of oil rose slightly last week, led to growing tensions in the Middle East, where the killing of Hamas chief. Oil prices ended near 87 USD per barrel despite a further strengthening of the dollar against a basket of currencies. The couple with the euro, the dollar traded at the end of the week on the value of 1.2730, ie very slightly weakened. Gold last week losing to the price of 1713 USD per ounce.
By sectors, wrote off most basic materials, and -2.7%. On the contrary, as the consumer goods sector was able to defend only a small 0.3% gain.  

Events next week:

Monday will change the number of existing home sales will be released on Tuesday the number of building permits issued. On Thursday, 22 11, the feast of Thanksgiving, and markets will be closed. Macro allocated for that day will be moved to Wednesday. The most important are the numbers of applications in unemployment, but also leading indicators or index of consumer sentiment.
A complete overview of the expected macro data, visit

Model portfolio:

In 46th week model portfolio Grant Capital bought MCD, NVDA, SFY and ADBE. And sold AGNC ARR.
Details about the model portfolio, visit:

Společnost GRANT CAPITAL se specializuje na zprostředkování obchodů s akciemi na burzách v ČR, Evropě a USA. Pro více informací navštivte
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US trhy – rekapitulace uplynulého, 46. týdne, a výhled na týden od 19. 11.

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