The previous week began with the increase in the US stock market due to the growth of the technology sector, driven by Apple shares.

However, the prospects for the US withdrawal from the deal on Iran proved to be a deterrent to the growth of the major stock indices. Among corporate reports, it is worth noting the news that the Swiss giant Nestle has agreed to pay Starbucks about $ 7.2 billion for the right to sell its products around the world.

On Tuesday trading on stock markets ended in the neutral zone due to the situation in the technology sector and the utility sector. Expected Trump's decision on sanctions against Iran and US statistics also played a role in influencing the market situation. A review of the vacancies and turnover of labor from the US Bureau of Labor Statistics showed that in March the number of vacancies increased to 6.550 million, updating a record high. The index for February was revised to 6.078 million from 6.052 million. Analysts expected that the number of vacancies would increase only to 6,101 million. Meanwhile, the vacancy level rose by 0,3%, amounting to 4,2%.

On Wednesday, the market saw significant increase caused by rise in the price of shares of energy companies in response to President Trump's decision to abandon the agreement on Iran's nuclear program. The Ministry of Labor stated that producer prices in the US increased slightly last month, becoming a possible sign that inflationary pressures in the economy remain relatively modest. The producer price index increased by 0.1% in seasonally adjusted terms in April compared to the previous month. Economists forecast an increase of 0.2%. In annual terms, producer prices rose by 2.6% last month, which is the weakest annual increase since December.

The growth persisted the next day, with the S & P 500 exceeding the key technical level after weak inflation data cooled fears about a faster rate hike. As reported by the US Labor Department, the consumer price index (CPI) in April rose by 0.2% after a decrease of 0.1% in March. At the same time, the basic CPI, which does not take into account volatile prices for food and energy, rose 0.1% in April after rising 0.2% in March. Economists had expected the CPI to increase by 0.3% in April and the base CPI by 0.2%. Compared to the same period of the previous year, the consumer price index increased by 2.5%, and the base index - by 2.1%. Economists predicted that the total annual inflation will be 2.5%, and the base inflation - 2.2%.

The week ended also with the growth due to lower fears about a more rapid increase in interest rates after the release of inflation data for the US. Increased volatility was observed in the shares of the health sector, as investors await a statement by US President Donald Trump about controlling the prices of prescription drugs. In addition, according to preliminary research results submitted by Thomson-Reuters and the Michigan Institute, the mood sensor among US consumers did not change in May compared to April, and was slightly stronger than the average expert predictions. According to the data, in May the consumer sentiment index was 98.8 points, coinciding with the final reading for April. According to average estimates, the index had to fall to the level of 98.5 points.

 

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