Thursday's session on Wall Street ended with no surprises. Major averages recorded solidarity increases, the S&P500 index gained 0.65 percent and ended the day at levels similar to those observed after opening. Than this is a preview of neutral openings in Europe.

Today's macro calendar does not contain exciting events and from this perspective it is difficult to expect any fireworks. In the afternoon we will know the PMI index for the industry of the United States and earlier similar readings from Europe but there are not data that could have a decisive impact on the market. Markets seem to have today everything to look calm and consolidate after two days of reaction to the super-Wednesday. Moreover Europe has had four sessions of gains which may lead to profit taking.

On the Warsaw market situation is slightly different. Positive sentiment after the Fed decision, suitable for emerging markets, fighting in Warsaw with local political risk. Yesterday's decline in stock prices in the energy sector - triggered by announcements of the authorities about capital increasing, discourages foreign investors and minority shareholders to hold Polish shares and especially shares in companies owned by the Treasury. Thus, a good attitude to other emerging markets does not necessarily have to reflect with increases in the Warsaw index of the largest companies.