The past Monday began for the US stock market in different directions.

The profit of financial stocks was compensated by the fall in shares of Amazon and industrial companies on the background of investors' expectations of earnings reports of large companies in order to assess the impact of the trade conflict. According to the National Association of Realtors (NAR), home sales in the secondary market last month fell for the third month in a row, as the decline in the South and West exceeded the sales in the Northeast and the Midwest. Total home sales in the secondary market decreased by 0.6% to the seasonally adjusted level of 5.38 million units from revised 5.41 million units in May. With decrease in June home sales are now 2.2% lower than a year ago.

The next day the major stock indexes moved to growth after the strong quarterly results of Alphabet confirmed the expectations of a solid season of reports and triggered a rally of technological shares. The growth in quotations of the base materials sector also supported the overall upward movement. Investors drew attention to data on the country. According to statistics, house prices in the US rose by 0.2% in May compared with April, according to the housing price index from the Federal Agency for Housing Finance. The 0.1% increase in April was revised to 0.2%. Meanwhile, US private sector companies demonstrated a robust growth in overall business activity in July, supported by improved economic conditions and another sharp rise in new orders.

On Wednesday, the market continued to grow, responding to signs of easing tensions in US-EU trade relations after news of concessions from the EU, which reduces the likelihood of trading wars. In addition, there has been a steady rise in the technology sector and in the service sector. The Commerce Department reported that sales of new homes in the US fell by 5.3% in June, despite a tight housing market, where buyers are far superior to sellers. The sales of new buildings amounted to 631 000, which is less than the May revised figure of 666 000. The sales of new homes this year grew by 6.9%. The average selling price fell by 4.2% compared to the previous year and amounted to 302 100 US dollars.

On Thursday, the collapse of Facebook shares caused mixed market dynamics. Nasdaq went to the "red zone", but Dow Jones showed growth against the background of improving sentiment after the US and the EU said they would negotiate on trade.

At the end of the week indices met in the negative territory due to the collapse of the technology sector. Market participants closely monitored corporate reporting and statistics on the US. The US Department of Commerce reported that in the second quarter the economy grew at the fastest pace in the last four years, which was supported by a rebound in consumer spending, exports and investment of firms in business. GDP adjusted for seasonal fluctuations and adjusted for inflation increased by 4.1% q / q from April to June. Growth rates were the strongest since the third quarter of 2014. Meanwhile, the final results of research from Thomson-Reuters and the Michigan Institute showed that in July US consumers felt more pessimistic about the economy than in June.

 

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