Market news

15 May 2017

The main US stock indexes completed the session in a positive territory

The main US stock indices grew moderately on Monday, as rising oil prices stimulated shares of commodity companies, and investors ignored the consequences of global cyberattacks.

Oil prices rose significantly, reaching the highest level in more than three weeks, after Saudi Arabia and Russia supported the extension of the agreement to reduce oil production by nine months. In a joint statement by the energy ministers of the two countries, it was noted that Russia and Saudi Arabia, at a meeting in Vienna on May 24-25, will be offered to extend the agreement on reducing oil production by April 1, 2018. The issue of extending the agreement will be discussed at a ministerial meeting of the monitoring committee on May 24, and then at a meeting of OPEC and countries outside the cartel, on May 25

In addition, the confidence of builders in the market of newly built single-family homes increased by two points in May to a level of 70 according to the index from the National Association of Housing Companies / Wells Fargo Market Index (HMI), which was another sign that the housing market Continues to strengthen. This is the second highest indicator of HMI since the recession. The index, reflecting the expected sales in the next six months, jumped four points to 79, and the index, determining current sales conditions, increased by 2 points to 76. Meanwhile, the component measuring the movement of buyers fell by 1 point to 51.

Most components of the DOW index recorded a rise (20 out of 30). More shares fell shares Verizon Communications Inc. (VZ, -1.18%). The leader of growth was the shares of Johnson & Johnson (JNJ, + 2.91%).

All sectors of the S & P index finished trading in positive territory. The growth leader was the conglomerate sector (+ 1.8%).

At closing:

DJIA + 0.41% 20,982.73 +86.12

Nasdaq + 0.46% 6.149.67 +28.44

S & P + 0.48% 2.402.32 +11.42

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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