• WSE: Before opening

Market news

30 September 2016

WSE: Before opening

Thursday on Wall Street ended with falls and investors know a number of macroeconomic data. Positively surprised reading of GDP, which showed an increase higher than forecasts. The market also heard statements by members of the Fed, who pointed to the upcoming rate hike. The Dow Jones Industrial at the end of the day lost 1.07 percent, the S&P 500 fell by 0.93 percent and the Nasdaq Composite went down about 0.93 percent.

The highest increases were recorded in the US telecommunications sector, fuel and goods of higher order, declines led by the pharmaceutical industry and energy. The financial sector was one of the weakest in the market and gave about 1.5 percent

The situation on Wall Street may be translated into a downstream opening in Europe, and may create downward pressure on the market in Warsaw. Another element of today's opening of the Warsaw market can be yesterday's jump at the fixing. Combining this fact with a worse-than-expected closure in the US may lead to greater withdrawal of the WIG20 at the opening.

Today's macro calendar is relatively rich and connects to the last session of the month and quarter, which could bring an attempt to raise the valuations of individual stocks by institutional investors (ie. "window dressing"), it may also lead to surge in valuations at the fixing.

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