Major stock indexes rose on Wednesday thanks to strong quarterly report to Microsoft, which boosted optimism about the prospects for the quarterly results. According to the published report, the fourth quarter of 2016 fiscal year the company's profit according to the results reached $ 0.69 per share, which was at $ 0.11 above the average forecast of analysts. Quarterly revenue Microsoft has increased by 2.1% compared to the same period in 2015 to $ 22.64 billion, while analysts had forecast $ 22.137 billion.

Growth indices also contributed to the positive dynamics of oil prices after data showed that weekly crude oil inventories fell. US Department of Energy reported that crude oil inventories fell more than expected, but gasoline inventories unexpectedly rose. According to the report, during the week of 9-15 July crude oil inventories fell by 2.3 million barrels to 519.4 million barrels, while remaining at high levels by historical standards for a given period of the year. Analysts had forecast a decline of 2.1 million. Barrels. Oil reserves in Cushing terminal rose na189 000 barrels to 64.1 million barrels.

After the close of the trading session is expected to publish quarterly reports of American Express (AXP) and Intel (INTC).

DOW index components closed mostly in positive territory (21 of 30). Outsider were shares of The Walt Disney Company (DIS, -1,29%). More rest up shares Microsoft Corporation (MSFT, + 6,04%).

Almost all sectors of the S & P showed an increase. conglomerates (-0.4%) sectors fell most. The leader turned out to be the technology sector (+ 1.3%).

At the close:

Dow + 0.19% 18,595.10 +36.09

Nasdaq + 1.06% 5,089.93 +53.56

S & P + 0.43% 2,173.02 +9.24

Major U.S. stock-indexes rose on Wednesday, as Microsoft strong results boosted optimism regarding the health of quarterly earnings. Also helping stocks was a reversal in oil prices, with Brent crude up nearly 1%, after data shows weekly crude inventories fell slightly more than expected.

Most of Dow stocks in positive area (21 of 30). Top looser - The Walt Disney Company (DIS, -1,44%). Top gainer - Microsoft Corporation (MSFT, +6,57%).

Almost all S&P sectors in positive area. Top looser - Conglomerates (-0,3%). Top gainer - Technology (+1,2%).

At the moment:

Dow 18538.00 +58.00 +0.31%

S&P 500 2167.75 +9.00 +0.42%

Nasdaq 100 4649.00 +42.50 +0.92%

Oil 45.76 +0.31 +0.68%

Gold 1320.70 -11.60 -0.87%

U.S. 10yr 1.59 +0.03

The market on Wall Street started another upward session, however, the dynamics of the march toward the all-time records weakened and the market caught short of breath after three weeks of increases.

It seems that at current levels forces of supply and demand are in balance and the market is waiting for another impulse, which will allow for a new assessment of market conditions.

Today's volatility on the WIG20 did not provide us with attractions. Virtually drift beyond the area of variation at several points and nothing happens on the market . It is worth noting that at this stage the image of the WSE is relatively weaker in relation to the environment.

U.S. index futures advanced, after equities slipped from a record, as the earnings season spurred optimism corporate health is robust enough to support stock gains.

Global Stocks:

Nikkei 16,681.89 -41.42 -0.25%

Hang Seng 21,882.48 +209.28 +0.97%

Shanghai Composite 3,028.34 -8.26 -0.27%

FTSE 6,699.91 +2.54 +0.04%

CAC 4,367.07 +36.94 +0.85%

DAX 10,118.26 +137.02 +1.37%

Crude $45.01 (-0.97%)

Gold $1317.00 (-1.15%)

(company / ticker / price / change ($/%) / volume)

Upgrades and downgrades before the market open

Upgrades:

Downgrades:

Walt Disney (DIS) downgraded to Hold from Buy at Stifel
Verizon (VZ) downgraded to Perform from Outperform at Oppenheimer

Other:

Microsoft (MSFT) target raised to $62 from $57 at BMO Capital Markets
Microsoft (MSFT) target raised to $60 from $55 at Wunderlich
Microsoft (MSFT) target raised to $60 from $58 at Stifel
UnitedHealth (UNH) target raised to $165 at RBC Capital Mkts
Johnson & Johnson (JNJ) target raised to $133 at RBC Capital Mkt
Goldman Sachs (GS) target raised to $150 from $145 at RBC Capital Mkts

The first half of trading brought the output of European indices on a daily maximums. The DAX and the CAC are rising - appropriately - by 1.4 percent and 1.1 percent and significantly depart from the Warsaw Stock Exchange, on which the biggest rise in the praises have small companies - the sWIG80 index grow by 0.8 per cent. In fact the WIG20 hovering around yesterday's close and moves under the line of resistance and under the psychological barrier of 1,800 points. The market seems to be frozen after Monday's growth, but ignoring the upward pressure from the environment will not be easy and the further increases in Europe will affect an attack on the resistance at 1,800 points and may change the picture of the session in Warsaw. At the halfway point of the session the WIG20 index was at 1,792 points (-0.04%) with the turnover amounted to PLN 215 mln.

Microsoft reported Q4FY 2016 earnings of $0.69 per share (versus $0.62 in Q4 FY 2015), beating analysts' consensus estimate of $0.58.

The company's quarterly revenues amounted to $22.642 bln (+2.1% y/y), beating analysts' consensus estimate of $22.137 bln.

MSFT rose to $55.39 (+4.33%) in pre-market trading.

WIG20 index opened at 1797.25 points (+0.27%)

WIG 46414.89 0.35%

WIG30 2026.88 0.44%

mWIG40 3499.92 0.31%

*/ - change to previous close

After the publication of the PPI in Germany, contracts for European indices clearly strengthened which contributed to a positive start of spot trading. This move of contracts set the mood also for the Warsaw market and here it is worth to remember the relative strength of our parquet , which in this case would be happy with such an external benefited optimism.

Tuesday's session on Wall Street ended with a modest changes in the major indexes. DJIA recorded a slight increase, the S&P500 slight decline, while the Nasdaq lost at the and of 0.4 per cent.

Such hesitation of bulls side after several days of growth is a warning that Wall Street may get ready for a correction after three weeks of increases.

It would appear that Asian markets are preparing for such a scenario. The Nikkei lost now 0.25 percent and in the currency market we may see a slight strengthening of the dollar against the euro and the strengthening of the yen to the dollar, which is a classic combination of model "risk off".

Contracts for the German DAX and peaceful behavior of futures on the S&P500 signal rather flat start of the day in Europe.

During today's session, we will know the data on the Polish consumer sentiment; the trade balance of the Euro area and the packet of data on the labor market from the UK. More broadly, investors are waiting for tomorrow's ECB meeting. The most important element influencing the mood is, therefore, the season of publication of the quarterly results in the US.

European stock markets retreated from a three-week high on Tuesday, as disappointing corporate updates and lackluster economic sentiment data from Germany soured the investing mood.

The Stoxx Europe 600 index SXXP, -0.41% lost 0.4% to 337.32, after closing at the highest level since June 23 - the day of the U.K.'s Brexit referendum - on Monday.

The Dow Jones Industrial Average extended its winning streak to eight sessions and finished at a record high close for a sixth straight day on Tuesday even as the broader market retreated on disappointing quarterly results from Netflix Inc.

The Dow industrials DJIA, +0.14% gained 25.96 points, or 0.1%, to close at 18,559.01 as McDonald's Corp. MCD, +2.18% and Johnson & Johnson JNJ, +1.71% offset declines in Microsoft Corp. MSFT, -1.61% and Goldman Sachs Group Inc. GS, -1.18% shares.

The S&P 500 SPX, -0.14% edged down 3.11 points, or 0.1%, to end at 2,163.78. The Nasdaq Composite COMP, -0.38% shed 19.41 points, or 0.4%, to finish at 5,036.37. For the month so far, the tech-heavy index has climbed over 4%, though it is up just 0.6% year-to-date, trailing 6% gains for the S&P and the Dow.

Asian stocks stepped back early on Wednesday after a record run on Wall Street showed signs of petering out, while the dollar hovered near a four-month high against a basket of currencies following upbeat U.S. data.

Global risk appetite, which has recovered rapidly from the Brexit shock late in June, received a sobering reminder after the International Monetary Fund (IMF) cut its global growth forecasts for the next two years on Tuesday, citing uncertainty over Britain's looming exit from the European Union.

(index / closing price / change items /% change)

Nikkei 225 16,723.31 +225.46 +1.37 %

Hang Seng 21,673.2 -129.98 -0.60 %

S&P/ASX 200 5,451.25 -7.22 -0.13 %

Shanghai Composite 3,036.2 -7.37 -0.24 %

FTSE 100 6,697.37 +1.95 +0.03 %

CAC 40 4,330.13 -27.61 -0.63 %

Xetra DAX 9,981.24 -81.89 -0.81 %

S&P 500 2,163.78 -3.11 -0.14 %

NASDAQ Composite 5,036.37 -19.41 -0.38 %

Dow Jones 18,559.01 +25.96 +0.14 %