Hurricane Harvey influenced not only the oil market, but also the US stock market.

On Monday, the main stock index closed on Monday near the neutral mark, as investors evaluated the consequences of the disaster. The losses of insurance and oil companies were offset by growth in retail chains, health care and construction stores. In addition, it became known that the deficit of international trade in July was $ 65.1 billion, which was $ 1.1 billion more than in June. The export of goods for July amounted to $ 127.1 billion, a decrease of $ 1.6 billion compared to June. Import of goods for July was $ 192.2 billion, down by $ 0.5 billion compared with June.

Tuesday was nervous enough because of the news from the Korean peninsula. According to Japanese media, North Korea launched a missile in the direction of northern Japan. The rocket flew over the island of Hokkaido and in 1180 kilometers from it fell into the Pacific Ocean. The Japanese government called the DPRK's actions "an unprecedented threat," calling an emergency meeting of the UN Security Council.

By the middle of the week, the market stabilized and on Wednesday went over to growth. The main reason for this was data on GDP and the US labor market. Data from ADP showed that the growth rate of employment in the private sector of the US accelerated in August stronger than expected. According to the report, the number of employees increased by 237 thousand compared with the revised growth for July at 201 thousand (originally reported growth of 178 thousand). Analysts had expected the number of employees to increase by 185 thousand. A second estimate by the Ministry of Commerce showed that the recovery in the US economy in the second quarter was stronger than originally reported. According to the report, GDP grew by 3% from April to June, compared with the original index of 2.6%, which was the largest quarterly growth in two years.

On Thursday there was a report of the Ministry of Trade, which had a decisive influence on the growth of stock indices. According to the data, consumer spending grew by 0.3% last month after revised with an increase of 0.2% in June. Economists predicted that spending would grow by 0.4% after earlier reported an increase of 0.1% in June. However, according to the National Association of Realtors, unfinished transactions for the sale of housing declined in July, 4 times in 5 months. The index of unfinished transactions for the sale of housing (PHSI) fell by 0.8% to 109.1 in July, with a revised 110.0 in June. After the decline last month, the index is now 1.3% lower than a year ago, with the annual indicator worsening in three of the last four months.

The last trading day of the week ended in growth, despite the released data on the labor market. The Ministry of Labor reported that the number of jobs in the non-agricultural sector increased by 156,000 after rising by 189,000 in July. The unemployment rate increased by 0.1 percent to 4.4 percent. Economists predicted the increase in employment by 182,000, and the preservation of unemployment at 4.3 percent. Average hourly earnings increased by 0.1 percent after they rose by 0.3 percent in July, keeping the annual wage increase at 2.5 percent.


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