Following Wednesday, the US stock indices SP500 and Nasdaq fell by 3% and 4.4%, respectively. Fallen stock prices of leading US technology companies: Apple (NASDAQ: AAPL) (-3.43%), Amazon (NASDAQ: AMZN) (-5.91%), Microsoft (NASDAQ: MSFT) (-5.35%), Alphabet (NASDAQ: GOOGL ) (-5.18%), etc. due to poor reporting for the III quarter. In terms of earnings per share (EPS) of AT & T (NYSE: T) companies (forecast 3.52 / fact 2.93), Microsoft (forecast 4.32 / fact 3.88) plus other companies from this sector gave poor profit forecasts for the future is due to the slowing demand for chips in the world, which Texas Instruments (-8.24%) associates with the trade war between the US and China. The yield on US 10-year bonds fell by 6 bp up to 3.1%. Therefore, today the Asian indices fell to 1,1-3,6%. We expect a decline in the Russian market at the opening of trading. However, December futures for the MSCI EM index is trading neutral. Against the background of investors' disappointment in the profits and forecasts of American companies, we do not exclude that there may be capital inflows to emerging markets with good macro statistics and investment grade credit ratings, for example, Russia, Mexico. On Thursday, US investors will focus on Amazon and Alphabet (ex. Google) reports. If the results are weak, the US market will continue to fall. Probably, this event will even eclipse the conference based on the ECB meeting, which can be given deadlines after the end of the QE program.
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