While European stock indices continue to decline under the negative effect from Brexit and ambiguous policy of ECB, American indices are demonstrating uptrend
At the closing session on Wednesday the index S&P500 rose by 11.18 points or 0.5%, Nasdaq Composite - by 3626 points or 0.8%, and Dow Jones Industrial Average – by 78.00 points or 0.4%.
It is obvious that the impact from the results of the UK referendum is not so strong in the USA as it is in Europe and the UK.
Although UK's decision to leave the EU increased risks to the fragile global economy, the US macro-economic statistics is positive, showing stable condition of the American economy.
So, PMI index in the US non-production sector, which was released yesterday by the Institute for Supply Management (ISM), rose in June to the highest level since November (56.5 against the forecast of 53.3 and 52.9 in May).
American stock market was stable until yesterday’s (at 20:00 (GMT+2)) publication of the minutes of the FOMC meeting in June, which showed disagreements between the management of the financial regulator about the prospects for interest rates in the country.
Now, investors will wait for the release of the data on the US labor market on Friday (14:30 GMT+2). It is expected that the results will be high (+178 000 new jobs created outside the agricultural sector of the US economy), which will prove that the disappointing result of May (+38 000 new jobs), which was the lowest since 2010, is just a temporary phenomena.