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World markets  |  February 26, 2013 09:35:31

A brief summary of the U.S. markets on 25.2.13 - Italian elections and sequestration markets precipitated



Introductory session on Monday, although not endowed with any given economic impulses, but this time the main role played by political factors rather a temporary shortage of U.S. lawmakers flexible approach to addressing budget issues.

Specifically markets gradually taken over by the Italian parliamentary election results with some displeasure, though it seems that the Parliament can come out of this process somewhat divided.Democratic Party leader Bersani is on the way to get a majority in the lower house, but noticeable percentage gain Berlusconi in the upper chamber does not create the right atmosphere for such continuing reforms initiated by the previous government savings M. Monti, and it is now a major uncertainty. Finally, it was also evident in the course of the European common currency EUR.

Specifically, the U.S. budget problem called "sequestration" is bound to 1 March this year to start automatically cuts spending budget in the amount of 85 billionUSD in the last seven months of the fiscal year and therefore public spending and the defense can not rely on the fact that they get the originally planned amount of funds from the budget. Meanwhile, lawmakers in Congress nor President Obama not negotiate any (possible) temporary agreement to tackle this scourge sure that, if implemented, will affect the markets.

Investors continue to anticipate some correction or at least pause markets, not while the broader SP 500 index since the beginning of recorded performance tr 5.9%. The decline in the markets is also very much reflected in the volatility index VIX, the CBOE who scored a massive surge in the value of $ 18.99, ie +4.82 USD, respectively. +34.02%.

Major U.S. stock indexes have come down in the worst session since the start of 2013 to the following states: DJIA 13,784.17 points (-1.55%), Nasdaq Composite 3116.25 points (-1.44%) and the SP 500 1487.85 points (-1.83%). Index of blue-chip DJIA scored the weakest performance since 7.11 last year.

On the stock market, oil is on course $ 92.30 per barrel and the price of gold is $ 1,592.60 per troy ounce.On the Forex Cross Rates EUR / USD at 1.3062 and limit an obvious influence election speculation in Italy.

During Tuesday's session will continue to play a major role in the above rather political factors and their strong but added pulses from makrosféry fairly well anticipated and watched Fed chief Bernanke's speech. Specifically, the item SP / Case-Shiller 20-city index with expectations of 6.5% and the FHFA Housing Price Index for December. Followed by new home sales in January with the expectations of 385 thousand. and consumer confidence for February with the assumption of 62.0 points.Further information will be ICSC / GS Store Sales, Redbook, Richmond Fed Manufacturing Index and State Street Investor Confidence Index. Notify the Treasury auctions of government securities with maturities of 4W and 5Y.

The main event will probably be semi-annual U.S. defense activities of central banks from the Fed chief Bernanke, who before the Senate Banking Commission (and tomorrow in Congress) will perform at 16 am ET with a review of the Fed's monetary policy, interest rates, QE 3 etc.

Asian markets reflected the negative conclusion and U.S. Nikkei Average ended -2.26%, -1.32% and HangSeng Shanghai Composite -1.40%.

Indications U.S. futures look like this: DJIA +41 points, Nasdaq 100 and S & P points +6,75 +4,80 500 points.

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Stručné shrnutí US trhů dne 25.2.13 – italské volby a sequestration sráží trhy

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