WSE: Before opening

The end of Friday's trading on Wall Street did not bring surprises. As a result, the S&P500 has not changed the image of the day and does not deny the first reactions to the increase in the number of jobs outside agriculture in the US. The Tokyo Stock Exchange reacted standardly and overestimated the shares in response to the appreciation of the yen. The Chinese market, which is a part of the emerging markets, is growing and uses the receding prospect of rapid interest rate hikes in the US. The contract on the S&P500 recorded merely a cosmetic change compare to Friday's closing. Similarly, a contract for the DAX do not recorded a major change before opening of the new week. Thus, the image of the mood at the beginning of the new week can be described as a stable one.

In the macro calendar there is nothing particularly exciting. Another important event for the markets will be held in the middle of next week the meeting of the Federal Open Market Committee. The most important events of the next several hours will be today's speech by Janet Yellen, which should appear first assessment of Friday's report from the labor market. Yellen will begin his speech after the close of today's trading in Europe.

Friday shows the force of the bull side on market in Warsaw and has built a base for walking by the WIG20 over 1,800 points. But we need to keep in mind that two strong sessions on Thursday and Friday did not cover the weekly losses of the WIG20, which amounted to 2.5 percent, and confirmed the superiority of supply side. The new week will test the credibility of reflection, in order to assess whether Friday was just a rebound of Wednesday's panic, or the beginning of a new, short-term, upward trend.