We expect a correction on the US market in May
US stock indexes came close to historic highs, but could not overcome them, and began the correction. The reason for the growth of pessimism on the market became weak preliminary data on US GDP growth of only 0.5% in the first quarter of 2016, after expanding by 1.4% in the 4th quarter of last year. In addition, the weak growth in US spending indicates consumers’ cautiousness. As a result of weak macroeconomic data, as well as reduction of the profits of US corporations, we expect a significant correction by the 7-10% in May, the trigger for which is likely to be a correction on the commodity markets.
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