In the last week of January most important stock markets liked the green color. It seemed, that the global market sentiment improved and the bulls returned. Investors were focused on the Fed which did not change the interest rate. In addition, the FOMC’s commentary contained some concerns - the council was afraid of economic slowdown. Therefore, investors believed in a further dovish monetary policy. Moreover, Fed’s doubts were confirmed by the annualized GDP’s reading for the fourth quarter of 2015 – it rose by 0.7% y/y vs 0.8% expected. Furthermore, data on durable goods’ orders failed as well. Unlike them, the releases of the Conference Board index and the Chicago PMI index did not.

Last week brought high volatility in the financial markets again. Initially, the main indices grew, which was probably caused by slightly worse than expected data from the Chinese economy. Subsequently, the stocks started to move towards the south. However, the second part of the week was dominated by bulls. As a result, most important stock markets managed to end the week in the green. The NASDAQ rose by 2.3%, the S&P500 increased by 1.4% and the DJI went up by 0.7%. European markets took a leaf from Wall Street – French CAC40 grew by 3.0% and German DAX took off by 2.3%.

The second week of the new year was marked by high volatility in global financial markets. Initially, the stocks were dominated by bulls. Certainly, better than expected volumes of export and import in China improved the markets’ sentiments. However, the market tone changed on Wednesday. As a result, most important stock exchanges moved towards the south. It was caused by the release of Beige Book which contained the economic outlook for the US. The analysis showed that the recovery might be uncertain.

Last week was dominated by the red color leading to the worst opening of a new year in history. The declines were caused by weak economic data from China. On Monday there was a release of the industrial PMI. It stood at 48.2 pts. to the expected 49.0 pts.. In addition, the services PMI unexpectedly failed (50.2 pts. vs 52.3 pts. expected). This data indicated a slowdown in Chinese economy. Moreover, accompanying strong pressure, which was resulted from the expected expiration of regulation that restricted the sale of shares by investors holding at least 5% equity stake in the company, led to the increase of tension in the markets and even panic.

The last week of the year for investors in Poland lasted only three days. Consequently, there were lower volumes. In addition, investors did not learn any significant economic data. What is more, despite the promising start of the week the index of the largest companies failed. As a result, the WIG20 decreased by 0.9%. Unlike Blue Chips, small and medium – sized companies ended the week in the green. The mWIG40 rose by 0.4% and the sWIG80 took off by 2.8%.