The last week of February begins against the background of a slight advantage for pessimists – apparently the G20 meeting did not produce the results that were expected. At the same time, we cannot say that the leaders of major countries have noted negative statements: all that we learned as a result of the weekend was that an increase in European aid funds should follow, but at a later time.
This week promises to be rich in terms of the publication of economic data. Thus, we can look forward to such important events as the publication of the PMI business optimism index and the revision of GDP growth in the U.S. in 4Q11. At the same time, the publication of data on the U.S. labor market according to the BLS will take place next week (March 9).
Thus, it appears that the mystery of the week will be whether the economies of Europe, the USA, China and Brazil will bring any positive surprises. Otherwise, the weak European news background should promote the testing of futures contracts on the S&P 500 at the 1,350-point mark, which is unlikely to be deterred.
