Markets cannot decide the direction of
Global stock markets on Friday can’t decide on the direction of the move on conflicting factors affecting investor sentiment: the negative consequences of the pandemic, and at the same time very good statistics on the U.S. economy.
U.S. indices rose 1.6% a day earlier after the release of data on sharp U.S. GDP growth, which recovers from losses incurred as a result of the pandemic. This figure in the third quarter, according to the first estimate, increased by 33.1% year-on-year, showing record quarterly growth.
Asian bourses on Friday fell to 0.6% on concerns about the prospects for a global economic recovery. Investors also turned their attention to statistics from Japan. The country’s unemployment rate remained at 3% in September, as it did in August, while the market expected it to be 3.1%.European markets are showing little momentum after they closed mostly higher the day before. Market participants assess the outcome of the European Central Bank meeting, during which the financial supervisory authority expected the base rate to remain at zero.