Wednesday session on the stock exchanges of New York ended with slight increases in anticipation of the ECB decision, which may include increasing the monetary stimulation. Valuation of stock indices helped to rising oil prices.
The Dow Jones Industrial Average at the end of the day gained 0.21 percent. and it amounted to 17 000.36 points. S & amp; P 500 rose by 0.51 per cent. and amounted to 1,989.26 points. Nasdaq Comp. firmer by 0.55 percent. to 4,674.38 points.The company gained oil companies, aided by rising oil prices. He lost while biotechnology sector.
In anticipation of the meeting of the European Central Bank (ECB) for most of the session, the euro weakened against the dollar. The EUR / USD bounced back, however, in the afternoon at around 1.1 percent.
On Thursday, the ECB probably will loosen monetary policy. In the market remain concerns, however, that the scale of additional stimulation may be disappointing, as it was in December, when the previous decision of the ECB to modify the stimulation resulted in czteroprocentowe strengthening of the euro against the dollar.
Brent prices again exceeded the level of USD 40 per barrel and quotations help to reports of the possibility of meeting representatives of producers of raw materials. Representatives of countries associated in OPEC, as well as producers not belonging to the organization plan to meet in Moscow on March 20. Will be discussed on the plan to freeze output levels – said news agency Al-Sabah citing Iraqi sources. Ministry of Energy of Russia has stated, however, that neither the date nor the venue has not yet been established.
Oil stocks in the US expected to have risen last week by 3.88 million barrels to 521.86 million barrels – announced the US Department of Energy (DoE). DoE also reported that gasoline inventories fell during this period by 4.52 million barrels to 250.46 million barrels. Reserves of distillate fuels, including heating oil, fell by 1.12 million barrels to 162.48 million barrels.
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