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News and Insights » UMAFS Market Review Week Ending 3/31/2017

UMAFS Market Review Week Ending 3/31/2017
The S&P 500 Index rose .8% for the week as US economic data continued to strengthen, with consumer sentiment readings looking especially strong.  The energy sector led the way as WTI Crude Oil price rose 5.5% for the week.  The price of oil closed at $50.60/bbl as market expectations are hopeful that Organization of the Petroleum Exporting Countries (OPEC), and non-member Russia, would extend production cuts to reduce growing stockpiles.

On Tuesday, British EU Ambassador Tim Barrow triggered Article 50 of the Lisbon Treaty by delivering formal notice of the U.K.’s intention to leave the European Union to European Council President Donald Tusk.  With the bulk of the hard work ahead of them, the U. K. has two years to negotiate with the EU over their future relationship. The market’s reaction to this process was surprisingly minimal.

In the coming year, the Eurozone will have 5 leadership elections and investors will remain interested in the outcome.

April 3rd, 2017 @ 12:00am by UMAFS
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