The last week of April will start off with a series of events that may have a significant impact on the market sentiment. A number of S&P companies will announce their results this week, and most attention will be focused on such giants as Apple (today after the session) or Facebook (Wednesday after the session). The most important event in the macro calendar of this week will be FOMC Statement on Wednesday's evening.

The morning moods are bearish, Asia is dominated by sellers, and contracts in the US have also slightly adjusted after a higher opening. The end of Friday's session in the US was neutral for the S&P500, but there was the decline on the Nasdaq where we saw negative echo of somewhat disappointing results by Google and Microsoft.

The WSE remains in consolidation with better performance displayed by smaller companies. The period when we could expect the blue chips to drive the WIG20 above the level of 2,000 points is likely over, and we assume continuation of the correction of the previous growth.