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Major US stock indices slightly increased on Tuesday, responding to the IMF's improved forecasts for the growth of world GDP and US GDP for 2017 and 2018.

The IMF said that the global economic recovery has intensified and is wide-ranging, but it remains incomplete. The growth forecast for this year was raised to 3.6% from 3.5%, and by 2018 - to 3.7% from 3.6%. This is more than the growth of 3.2% in 2016, which was the weakest since the global financial crisis.

As for the growth of the US economy, the IMF revised its forecast for 2017 (to 2.2% from 2.1% expected in July) and to 2018 (to 2.3% from 2.1%).

Meanwhile, gradually attention of investors is shifting to the quarterly reporting of the corporate segment for the third quarter, which will show how justified are the high valuation of companies. The unofficial start of the season of US companies' reports will happen later this week with the publication of the results of several major financial institutions: on Thursday, October 12, reports will be submitted by Citigroup (C) and JPMorgan Chase (JPM), on Friday, October 13 - Bank of America (BAC) and Wells Fargo (WFC). According to Thomson Reuters, the profits of companies in the S & P 500 index basket are expected to show an increase of 4.2% compared to the same period last year, after exceeding expectations of growth of 12.3% y / y in the second quarter.

In addition, as shown by the data, the index of economic optimism in the US, calculated by the newspaper Investor's Business Daily and the research firm TechnoMetrica Institute of Policy and Politics, collapsed in October by 5.8%, reaching 50.3 points, which is the lowest reading for the last 12 months. Experts expected that the figure will rise to 54.6 points compared to 53.4 points in September. However, the index still remains above 50 points, which indicates optimism. It is worth emphasizing that the index is above the level of 50 for 13 consecutive months, which is the longest series for more than a decade. Oil prices jumped by more than 1.5%, gaining support from Saudi Arabia's intention to cut oil exports, and OPEC comments and trading companies that the market is restoring its balance after years of oversupply. Saudi Arabia said it plans to reduce oil supplies by 560,000 barrels a day in November. This step is yet another confirmation of the fact that OPEC members are committed to a pact on the reduction of supply.

Most components of the DOW index finished trading in positive territory (17 out of 30). Wal-Mart Stores, Inc. became the leader of growth. (WMT, + 4.71%). Outsider were UnitedHealth Group Incorporated (UNH, -0.93%).

Almost all sectors of the S & P index recorded an increase. The utilities sector grew most (+ 0.7%). The decrease was shown only by the conglomerate sector (-0.2%).

At closing:

DJIA + 0.31% 22.830.68 +69.61

Nasdaq + 0.11% 6,587.25 +7.52

S & P + 0.23% 2.550.64 +5.91

U.S. stock-index futures were higher on Tuesday as investors awaited the start of earnings season, which will unofficially kick off later this week, when several big banks, including JPMorgan Chase (JPM), Citigroup (C), Bank of America (BAC) and Wells Fargo (WFC), publish their results for the third quarter.

Global Stocks:

Nikkei 20,823.51 +132.80 +0.64%

Hang Seng 28,490.83 +164.24 +0.58%

Shanghai 3,383.54 +9.16 +0.27%

S&P/ASX 5,738.11 -1.15 -0.02%

FTSE 7,533.42 +25.53 +0.34%

CAC 5,362.87 -2.96 -0.06%

DAX 12,957.42 -18.98 -0.15%

Crude $50.24 (+1.33%)

Gold $1,293.10 (+0.63%)

(company / ticker / price / change ($/%) / volume)

Tesla (TSLA) target raised to $379 from $317 at Morgan Stanley; maintain Equal Weight

Caterpillar (CAT) target raised to $158 at Goldman

European stocks nudged higher Monday, finding support from advances in Spanish stocks and strength in German economic data. The Stoxx Europe 600 index SXXP, +0.19% rose 0.2% to close at 390.21, partly rebounding from a 0.4% loss on Friday.

U.S. stocks closed lower on Monday, with the Nasdaq ending a nine-day rally as investors found few reasons to push shares deeper into record territory in a thinly traded session. The U.S. bond market was closed in observance of Columbus Day, which contributed to the light trading action in equities.

South Korean equities led broad gains across the Asia-Pacific region on Tuesday, as investors there caught up with the global market strength following a long holiday. Driving gains was a 4.4% surge in heavyweight Samsung Electronics 005930, +4.25%, as traders rush to buy the stock ahead of the company's third-quarter earnings report due on Friday.