European stocks are set to open higher on Monday as investors take weak Chinese data in their stride and a cyber-attack linked to IT attacks around the world showed little evidence of widespread disruption.
(AP Photo/Koji Sasahara). People look at an electronic stock board of a securities firm in Tokyo, Monday, May 15, 2017.
Britain's FTSE 100 added 0.1 percent to 7,444.12 and Germany's DAX was almost flat at 12,773.70. The German DAX rose half a percent, France's CAC 40 index gained 0.4% and the UK's FTSE 100 advanced 0.7%.
S&P 500 e-minis were up 3 points, or 0.13 per cent, with 126,481 contracts traded.
"As we have seen over the past six months, rising USA production and record inventories have kept upside limited and a nine month extension at this stage is unlikely to break that", he said. Fresh troubles were reported in Asia as businesses reopened Monday, but the scale of the impact from the effort to extort cash from computer users was still unclear. The country tested another ballistic missile over the Sea of Japan on Sunday (http://www.marketwatch.com/story/north-koreas-ballistic-missile-launch-viewed-as-challenge-to-new-president-in-south-2017-05-13), seen as a direct challenge to the newly elected president of South Korea. A jubilant leader Kim Jong Un promised more nuclear and missile tests and warned that North Korean weapons could strike the US mainland and Pacific holdings. That followed pledges of more than $100 billion in financing during a gathering of leaders from 29 countries to promote the "Belt and Road Initiative" of developing ports, railways and other facilities in a vast arc of 65 countries.
Asian stocks climbed to a fresh-two year high on Tuesday on the back of an overnight rise in Wall Street, while oil extended gains after major producers Saudi Arabia and Russian Federation pledged to push for an extension of supply cuts into 2018.
Benchmark West Texas Intermediate crude oil for June delivery traded up almost 3% this morning to $49.25, while Brent crude for July delivery traded up 2.9% at $52.32.
In this series, we'll look at the energy calendar, United States crude oil's highs and lows in the last 15 months, Cushing crude oil inventories, the USA crude oil rig count, and some crude oil price forecasts. Australia's S&P ASX 200 was almost unchanged at 5,838.40.
CURRENCIES: The dollar was steady at 113.56 yen and the euro rose to $1.0946 from $1.0932.