Previous Monday, US stock markets began to grow steadily after lowering concerns that President Donald Trump's threat of imposing high tariffs on imports of steel and aluminum would trigger a global trade war.

Speaker of the House of Representatives of the US Congress, Ryan disagreed with Trump's decision to introduce new duties on the import of steel and aluminum, creating conditions for polemics between the leaders of the republican majority in parliament and the White House. Ryan's concern was shared by many legislators from the Republican and Democratic parties, who are fearing the negative impact of restrictive measures on the growth of the US economy. In addition, the focus was on statistics for the United States. As it became known, the index of business activity in the US services sector, calculated by the Institute for Supply Management (ISM), fell to 59.5 points in February, compared to 59.9 points in January. Analysts predicted that the figure would drop to 59.0.

On Tuesday, growth continued, the main reason was the easing of tensions around the Korean peninsula and the fading of concerns about the potentially dangerous tariffs for metals imports proposed by US President Trump. US Treasury Secretary Mnuchin said that the new import duties would not apply to the supply of steel and aluminum from Canada and Mexico, if the parties could achieve a review of NAFTA. In addition, it became known that orders for goods produced in the US recorded the largest decline for the six months in January, and equipment costs slowed after strong growth in 2017. Production orders fell 1.4% due to a wide decline in demand, the Ministry of Commerce said. This was the biggest fall since July 2017 and ended the growth period for five consecutive months.

On Wednesday, the dynamics of trading changed, as investors were concerned about the resignation of the chief economic adviser to US President Gary Cohn and subsequent possible trade conflicts that could slow economic growth. The deficit of the US trade balance rose to more than 9-year maximum, and the deficit with China sharply expanded, which indicates that Trump's trading strategy is unlikely to have a significant impact on the deficit. The Department of Trade said that in January the deficit jumped 5.0% to $ 56.6 billion. This was the highest level since October 2008. In the "Beige Book" from the Fed the information came out that in all 12 regions of the US, the growth rates of the economy ranged from modest to moderate. It also became known that in many of the 12 regions wage growth accelerated to moderate rates, and employment growth was moderate compared to the previous several months, which indicates the preservation of unused labor resources. In addition, the report indicated an acceleration in consumer price growth. According to reports from the most of regions, inflation has accelerated from "modest" to moderate.

On Thursday, the major US stock indexes finished trading above zero in anticipation of President Donald Trump's announcement of an increase in metal tariffs and amid fears that this move could trigger a global trade war. As it became known, Trump signed a decree on the introduction of tariffs for the import of metals. This decree sets the tariff of 25% for steel imports, 10% for aluminum imports, while Mexico and Canada do not fall under tariffs. The focus of attention of market participants was also weekly data on the US labor market. The Ministry of Labor stated that the number of Americans applying for new unemployment benefits rose last week, having retreated from the lowest level since 1969. Initial claims for unemployment benefits rose by 21,000 to 231,000, seasonally adjusted for the week ending March 3. Economists were expecting 220,000 new applications.

The week ended with confident growth. The main US stock indexes were supported by data on the US labor market. The growth of employment in the US accelerated in February, recording the largest increase in more than 1.5 years, but the slowdown in wages indicates a gradual increase in inflation this year. Last month, the number of jobs in the non-agricultural sector increased by 313,000, which was contributed by the largest increase in employment in construction since 2007, the Ministry of Labor said. The increase in employment last month was the largest since July 2016 and was well above the estimated 100,000 jobs a month that the economy should create in order to keep up with the growing working-age population. Average hourly earnings rose four cents, or 0.1%, to $ 26.75 in February, slowing from 0.3% in January.

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