On Tuesday night Kyiv time, that is, during the Asian trading session, global equity markets turned around and buyers came closer to being victorious in their battle to reach a critical level. This morning, futures on the S&P 500 have risen more than 0.5%, corresponding to around 1,355 points.
The news background following such market dynamics is probably negative. The only positive headline for now is the willingness of Chinese authorities to support European partners. At the same time, it is not the first such comments over the last year and, as the story goes, the positive result of such statements generally tends to evaporate.
Some may point to better-than-expected preliminary data on economic growth in France and Germany in 4Q11 as potentially important good news. At the same time, amid the expected decline in GDP in Greece (-6.8% in 2011), the question of growth is becoming more relevant and French GDP growth at 0.2% is only 0.2% after all.
However, as we noted earlier, Ukrainian traders should ignore the tone, character and content of news headlines and focus on the dynamics for futures on the S&P 500. At the moment, U.S. stock market dynamics speak in favor of opening long positions; however, in our opinion, the struggle to reach the 1,350-point mark is not over yet.
