WSE: After start on Wall Street

Today's afternoon brought weaker readings of data from the US, signaling a weaker-than-expected condition of the industry. Zero growth in industrial production and lower-than-expected capacity utilization complement worse-than-expected PPI inflation reading. The data are in contrast with recent readings of the economy and should encourage corrective post-election mood after having increased. Contracts for US indices signaled a weaker opening on Wall Street, so the start of trading with discounts in the US market was no surprise. After the first minutes of trading on Wall Street contracts on the S&P 500 rebounded from the session lows allowing similar maneuver for European indexes. The beginning of the US session therefore leads to more stability than the confirmation of declines.

The Warsaw market still feeling the effects of a strong withdrawing from the beginning of the week and it is hard to think that the final hour will bring a major change in the balance of power. The biggest problem is the lack of strong capital on the side of the bulls. From the technical analysis point of view, today's session looks like another day of balance and wait for the stimulus for either party.

An hour before the close of trading the WIG20 index was at the level of 1,758 points (+ 0.27%).