global equity markets
the leitmotif of most of January trading on world markets have forced investors to sell commodities and equities is the fear of approaching a period of tightening monetary policy in different regions of the world. Presses on the market and uncertainty about the U.S. administration"s plans for the financial sector.

The last wave of optimism in the stock markets caused by soothing statements by Ben Bernanke and Barack Obama, was only a short-term bounce for corrective market. After one day of growth decline in world equity markets continues.

The last day the U.S. stock indices finished in red. Dow Jones Industrial Average fell by 1,13% - to 10,120.46 points, Standart Poor"s 500 has lowered 1,18% - to 1084.53 points, Nasdaq Composite was lower at 1.91%, standing at 2,179 points.

The main indicators of stock trading platforms of Asia today are losing roughly the same. Futures on America"s shares are listed with a decrease of 0,5%.

In the U.S. yesterday, leaving only the weak statistics. Thus, the increase in volume of orders for durable goods rose in December to just 0.3% against the expected 2%. The number of complaints of American citizens for unemployment insurance for the week ended Jan. 24 amounted to 470 thousand while the market participants predicted value of the index at 450 thousand

Meanwhile, good financial results demonstrate the reports of American corporations. Figures obtained for the previous quarter earnings-reporting companies on the eve of Amazon.com, Procter Gamble, 3M and Microsoft significantly exceeded market forecasts of U.S. experts.

Today in the United States will be published preliminary data on GDP for the 4 quarter. According to forecasts, the quarterly growth in U.S. economy was 4,6%, which is more than 2 times higher than the results of 3 quarters (2.2%). Some experts on the American economy and provide more optimistic forecasts.

Metal Market
This week, the major industrial metals have been active sales. The only metal that has continued to maintain its position remains nickel, yesterday, he also refrained from falling, and even showed moderate growth (0.85%, to $ 18350), the rest metallofyuchersy - collapsed.

main outsider last session on the London Metal Exchange was copper lost 4.6% of market value - up to $ 6898. Just under strong subsidence affected contracts for zinc, aluminum and lead, these metals fell 3.5% (2158 $), 3,3% (2108 $) and 3,2% (2057 $), respectively. The dynamics of the market has demonstrated a better tin, has lost 1.7% of the cost - up to $ 17550.

On Friday morning the market of metals should be of world trade platforms, auctions are held in negative territory.

Market Oil
Of the major commodities to maintain positive momentum in the Friday morning not only quotations of oil, it is true, and it is extremely unconvincing. Care of pair euro /dollar below the 1.4 significantly reduces the likelihood of rebound in the market of "black gold".

Yesterday hydrocarbons completed the symbolic lowering of the cost. Quotes the next contracts for Brent crude fell 0,15% and stopped on the value of 72.13 dollars per barrel. Price neftefyuchersov class WTI remained virtually unchanged, down 0.04% - to 73.64 dollars per barrel.

The next week, according to the survey Bloomberg, most of the oil market participants expect further downward movement.

Russia Market
observed in the last days of wariness traders awaited significant news from the United States, yesterday gave way to a desire to pay off the previously sold-paper at very attractive prices. As a result, Russia"s stock market managed to end the day in positive field.

Today external background leaves no room for maneuver to traders, at least in the morning. To open the domestic market had a negative zone. However, it is hoped that during the day index will take another attempt at growth. The reason for it can serve as data on U.S. GDP for 4 quarter of 2009, which will be known at 16:30 Moscow time.

Of the less important statistics, which, however, pay attention, we note published today, the unemployment rate in the euro area in December (13:00 Moscow time.) and the final value of the January index of consumer sentiment from the University of Michigan USA (17:55 MSK.). Reporting will release oil company Chevron.

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Dynamics
Bidding on Thursday at the home sites were under precautionary uptrend. The opening took place with a gap up on the background of positive external background. At the same time in the paper"s leaders escaped Rosneft after the message about opening a major new oil fields in the Irkutsk region. However, to keep pace until the closure was not possible. In the first half of the day "blue chips" have stabilized at the values of progress and tried to move higher, but in the second half of the session, the situation in Western European markets has deteriorated, which has suspended the sale. With a negative start trading in the U.S., investors are once again cut their long positions.

leader of growth on Thursday became the paper VTB, adding more than 3%. About 2% grew MMC Norilsk Nickel, Surgutneftegaz and Tatneft. The plus closed paper "LUKoil, Rosneft and Sberbank.

Following trades RTS index rose to 1460.98 points (1.01%), the MICEX index finished trading on the value of 1406.55 points (1.10%).

Causes
causes of the morning were good positive results of the tender in the United States and Asia against the background of optimistic statements by American authorities. Indices of confidence and sentiment in Europe came out mixed and not particularly influenced the course of bidding. On the other hand, data on orders for durable goods, and traditional data applications for unemployment benefits in the United States disappointed players. Against this backdrop, traders are once again went to sell the assets and the resulting indices closed noticeably back into daytime highs.

What to expect?
U.S. market on Thursday closed lower: Dow Jones -1.13%, S P500 -1.18% and the Nasdaq -1.91%. Asian areas now also falling. Japanese Nikkei 225 in minus 2.1%, Korean index falls to 2.4%, the index lost 1.5% of Hong Kong, the Chinese market is reduced by 0.1%.

Oil futures remain on the Thursday. At the opening of trading in Europe, a barrel of Brent crude oil yield about 72.20 dollars.

Thus, at the opening of Russia"s stock market a negative external background.

Why worry?
Another round of tightening monetary policy in the Asian region today revealed in the form of increased rates by 0.75% in India. The Chinese government has already taken similar measures, and, apparently, will continue this trend. Statistics consumer price index in Japan continues to reflect the increase in deflationary pressures in the economy. Ben Bernanke is the head of the Fed. The decision on his candidacy was supported on a vote in the U.S. Senate, however, the number of votes against was the highest in the history of elections. Quotes of copper continues to decline, and nickel - have grown up a bit. All spoke not in favor of buying the shares, as reflected in the form of falling Asian indices.

Total trades expect from today"s opening of the negative and volatile multi-directional movement of quotations within the session. Do not rule out that many of the shares on the basis of trades still be able to close in positive territory.

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