Daily market review – May 15th 2017

perindustries01

Last Friday Wall Street close a negative week for the first time in four weeks, after a mixed US inflation and retail sales.
This week’s trading is expected to take place at the background of the reporting season, which is due to end this week with the results of retail outlets like Wal-Mart and Gap.

In addition, US macroeconomic data such as permits, construction starts and industrial output will be published during the week, and the data for the first quarter in the Euro Zone and Japan.

In the commodities market, the price of the oil rose after the Saudi energy minister and the Russian oil minister issued a joint statement saying the two agreed to extend the oil cuts that came into force in January this year until March 2018.
Saudi Arabia and Russia are the world’s largest oil producers.

This morning the WTI crude for delivery in June rose 2% to $ 48.8 per barrel.
The Brent oil for delivery in July rose 2% to $ 51.8 per barrel.

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