Markets Are Preparing For ECB Meeting

The U.S. market finished the trading session in positive territory, taking into consideration the increase in the published data on the ISM report, which showed an increase of up to 53,7 points from 53,2 points. Published data appeared to be better than last month, although it was a bit worse than the predictions of analysts on the level of 54,0 points.

As a result, the Dow Jones Industrial Average added 0,46% and reached the level of 16532,61 points, the S&P 500 index rose by 0,70% to the level of 1885,52 points, and the index of tech-companies, Nasdaq, jumped up by 1,64% and was closed on the level of 4268,04 points.

Moderate optimism prevailed at the European stock markets. In Europe, investors are still not in a rush to make important decisions before the upcoming ECB meeting. Analysts and investors are trying to anticipate the expected decisions and possible monetary incentives in relation to the slowdown of inflation in the region.

Yesterday the PMI index of several European countries and the Eurozone as a whole, was published. According to the data, business activity in the leading countries of the Union was worse than market expectations. Germany made 53,7 points against the expected 53,8, and the United Kingdom made 55,3 points against expectations of 56,7 points. The Eurozone PMI industry, nevertheless, coincided with the forecast and reached the level of 53 points. As a result, the index of the London Stock Exchange (LSE.LSE), the FTSE100, grew by 0,82 %, the French CAC 40 (CAC.PAR) added 0,80% and the German DAX, 0,5%.

Quotes of oil fell during yesterday’s trading session and this morning are traded on $105,58 for Brent, and $98,89 for WTI, bargaining next to the levels reached yesterday.

There are not so many important reports being published today before the main economic event of this week. However, in the evening the ADP report in the private sector is going to be published, which should be taken into consideration as it can be used to predict the results of the NFP, which is going to be published on Friday.