Traditionally, the previous week began for the US stock market without serious moves.

A very noticeable decline in quotations of the conglomerate sector was compensated by the growth of the utilities sector and the service sector. Attention was also drawn to the statistics on the country and the beginning of joint military exercises of the United States and South Korea. The index of economic activity from the Federal Reserve Bank of Chicago (CFNAI) fell to -0.01 in July from +0.16 in June. Three of the four broad categories of indicators that make up the index have declined since June. Three of the four categories made a negative contribution to the index. The contribution from production-related indicators in CFNAI declined to -0.02 in July from +0.03 in June. The employment-related figures contributed +0.09 to CFNAI in July, compared to +0.13 in June. Employment in the non-agricultural sector increased by 209,000 in July after rising by 231,000 in June. The contribution of personal consumption and housing to the CFNAI rose to -0.06 in July from -0.07 in June.

The next day, the market showed strong growth, associated primarily with the expectations of the Fed's economic symposium in Jackson Hole.
The middle of the week was negative for the market. The main reason was the statements of US President Trump about a possible temporary halt to the work of the government if it does not agree on the construction of the border wall in Mexico, as well as his words about the renunciation of the trade agreement with Mexico and Canada.

Certain influence was also exerted by data on the United States. According to the statement of the Ministry of Labor, the number of applications for unemployment benefits in the US increased by 2000 to 234,000 people for the week to August 19. Economists expected that applications would increase to 238,000 from 232,000 the previous week. At the same time, home sales in the secondary market fell to the lowest level in the year in July. According to the National Association of Realtors, home sales in the secondary market with seasonal adjustment reached 5.44 million. Sales fell 1.3% compared to the revised June figure. While the July rate was 2.1% higher than a year ago, it was the lowest since August 2016.

Friday was held under the sign of the Fed conference in Jackson Hole. Janet Yellen said during the meeting that the reforms put in place after the crisis of 2007-2007 strengthened the financial system without impeding economic growth, and any changes in these rules should remain modest. The main US stock indexes in this case mainly increased. Investors also drew attention to the data on the United States. According to the report of the Ministry of Trade, in July orders for durable goods in July decreased by 6.8%, which was caused by a sharp drop in the volatile category of aircraft. This was the biggest decline since August 2014. In June, orders rose by 6.4%. Economists predicted that orders would drop by 6% in July.

 

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