Russian stock market grows amid stability of oil prices

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Russian stock market grows amid stable oil prices. Crude oil inventories in the U.S. rose to the highest level since December that has caused concern over a global glut, but the talk of OPEC to reduce production volumes has limited losses. According to the EIA, crude oil production in the U.S. also reached a record 11.7 million barrels per day. The market trend is still bearish. The question is what to do in December, OPEC and how much they will cut production.
The organization of countries-exporters of oil are concerned about the appearance of supersaturation, which may lead to a further decline in prices. But the biggest OPEC exporter Saudi Arabia is also under US pressure to prevent a sharp increase in prices. The oil market was also weakened by weak Asian markets as investors worried about slowing global growth with rising interest rates in the US and trade tensions.
Investors are watching how to curl events on and generally expect the growth of oil. OPEC plus Russia may again agree to reduce production, the concern is that not all the parties can come to agreement. You should pay attention to the companies as “Gazprom”, “Gazprom Neft”, “Rosneft”, “Tatneft”, “Bashneft” and “LUKOIL”. Under favorable conditions the oil and gas sector shares of these companies will become very popular.
Indexes on wall street closed mixed. S&P 500 completed its rise after a brutal two-day sell off caused by the energy and technology sectors. But the market was shaken by the end of the session, as shares of Apple (NASDAQ: AAPL) falls ahead of thanksgiving. Worries about slowing global growth and a peak in corporate earnings undermined risk appetite in recent months, calling into question the durability over 10-year bull market.
Development company software Autodesk reported third-quarter results above analysts ‘ forecasts, and announced a deal worth 875 million dollars to buy cloud-based software company PlanGrid. The volatility index ITS the most widely used barometer of expected volatility for the S&P 500 fell 1.68 points to 20.8 per. Company Foot Locker (NYSE: FL) Inc increased by 14.9% after quarterly sales growth in retail stores began to exceed expectations and has led to the growth of other sports retailers such as Dick’s Sporting Goods Inc., Hibbett Sports Inc and Nike Inc (NYSE: NKE). In General, we can estimate the us stock market positive. Next week we can fix the volatility and the market update historical highs.
Gaidar Hasanov
“International Financial Center”