On Tuesday, Russia's stock market, unable to bear the momentum acceleration upward momentum a little bit knocked risen over the past few days the temperature.

RTS index fell 1.96% to 1400.02 points, MICEX - to 2.71% to 1320.90 points. Both the stock indicator at the beginning of the day updated their maximum values since the beginning of the year. Trading volumes remained at high values.

A day earlier, the U.S. stock market, based on favorable reports from Philips, Alcoa, PepsiCo, on expectations that the next quarterly results of the largest companies will come out in a similar vein, the index reached a significant peak SP 500 since the beginning of the year, the level of 1080 points. Break of that level to confirm the optimistic expectations would mark an expansion of takeoff between the dynamics of financial markets and the real economy, so the enthusiasm of buyers several decayed yet in a more rational course. Such a reaction to the U.S. stock market prompted a more balanced approach to trading decisions of investors and other world stock markets.

At Russia's stock market at the beginning of the day on the residual demand indices updated their highs, after which the opening of Europe under the influence of profit-taking deviated from the highs reached. Continued with a wave of weakening U.S. currency, in which a pair of EUR /USD was reached a maximum of 1.48 since the beginning of the year, impacted only on the parameters of the market price of raw materials, while the value of capital assets from such trends taking into account the previously mentioned had not received a positive reaction . Oil prices on the sort of WTI at the expense of an additional driver in the form of improved OPEC forecast of oil consumption in 2009-2010 were able to exceed the resistance in the $ 73/barr., But Russia's stock market is only sharpened the struggle between the bulls and bears.

not come and support from published statistics. The index of business sentiment in the euro zone, calculated institute ZEW, turned out to be worse than the figure for the previous month and analysts' forecasts. Fundamentally changed the situation and with the release of quarterly report from Johnson Johnson. Earnings per share exceeded analysts' expectations, but the volume of sales was worse than forecasts, which caused disappointment in the markets, because investors do not see the embodiment of improved business environment. Difficulties fear that in subsequent reports will be observed such an unpleasant tendency to exclude all future attempts to win back intraday losses. And with the advent of the recommendations of the well-known analyst Meredith Whitney's record profits on good growing up shares Goldman Sachs, which triggered selling pressure in shares of banks around the world, the number willing to reduce the risks of their investments has exceeded the number of those in receipt of such signals was willing to buy securities declined in value . MICEX Index is against this background updated its intraday lows by the end of the day dropping to the bottom of the short-term bottom of the corridor, formed in early October, to 1,310 points.

Recommendation from Meredith Whitney has stepped up pressure in the blue chips of the financial sector: VTB Bank (-4.98%), Sberbank (-3.6% obyk., scion. -5.31%). Financial sector Micex FNL, however, due to the shares of Bank of Moscow (9.69%) reduced its value only 0.43%.

from profit-taking hit and shares of oil and gas (Micex OG -2.99%)and metallurgical sectors (Micex MM -1.71%), lower exchange value of the most liquid stocks which ranged from 0.16% to 4.98%.

released funds spilled over into shares of energy (Micex PWR 0.61%) and telecommunications sectors (Micex TLC 0.85%) market.

look at today's market:

The American stock market (SP 500 -0.28%) decided not to go to a second assault on the maximum marks the beginning of the year on an index SP 500 (1080 on). Extend the six-day series of promotions failed largely because of record company Johnson Johnson, who has not met expectations in terms of sales volume. Investors are faced with cognitive dissonance due to the lack of communication between him and the restoration of the economy, which resulted in a reduction in the desire to buy in anticipation of release of quarterly results of other companies. Careful market participants reacted to the recommendations of the well-known analyst Meredith Whitney's record profits on stocks at Goldman Sachs in mind that these stocks have reached their fair values, which placed pressure on the entire financial sector. Support bulls had information about the acquisition of Cisco Systems company Starent Networks.

Speaking vice president of the Federal Reserve, Donald Kohn said that economic recovery will take place not on the V-shaped curve that the risks to price dynamics are biased downward, but the Fed on the alert for inflationary expectations and will be ready to tighten monetary policies when necessary. After bidding mood changed to positive after as revenue and earnings per share from Intel exceeded the forecasts of experts. SP 500 futures on Wednesday, increasing to 0.83%.

At the Asian stock markets dominated by optimism (Shanghai composite 2.52%, Hang Seng 1.36%, BSE 30 1.13%, Nikkei 225 -0.04%). In addition to a favorable report from Intel buying triggered data on foreign trade of China, according to which the fall in exports continued to decline year on year. Australia had a reason for joy - increasing the index of consumer confidence. Bank of Japan up to the meeting to leave interest rates unchanged at 0.1%, maintaining the view that the economy has enjoyed the transition to a phase of revival of business activity. The stock market of the country remain below the neutral mark due to sales of shares in banks after media reports that Japan Airlines is experiencing problems presented a new plan to restructure its debt, which its creditors offered to forgive her #165; 250 billion market better feel of technology stocks and commodity companies. Latest receive dividends from rising prices in commodity markets, which occurs against the backdrop of weakening U.S. dollar (€ = $ 1.488). Prices for WTI crude oil on the sort of test rate of $ 75/barr., Gold prices ($ 1068/untsiyu) updated their record.

Russia's stock market in that situation again gets the advantage over other equity markets. After opening with a break up not less than 0.5% was going to have quite good chances to completely reverse the losses of the previous day. To contribute to this in addition to improving market conditions and technical factors will be - on the eve of the MICEX index shot overbought and sank to the bottom of the short-term bottom of the corridor, formed in early October (1310 points). After a morning shot up in the afternoon can be expected to stabilize the dynamics on the achieved levels. Further impetus to emerge after the report from JPMorgan (15-00) and data on retail sales (16-30). The latter is expected to show a decrease of 1.5% the previous month. In order for the American and Russia's stock market went to new frontiers, it is necessary to publish the figures were more encouraging. Otherwise, most market participants are likely to prefer to wait until a more complete picture of how the season develops corporate reporting. Inaddition to retail sales today will be published index stocks of goods in warehouses at 18-00. After trading in Russia in 22-00 minutes will be posted to the last meeting of the Fed.

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