The past week for the US stock market was short due to Labor Day on Monday.

On Tuesday, the major US stock indices showed a slight decline after the fall of heavyweights Facebook and Nike added fears amid trade negotiations between the US and other major economies. In turn, some support for the market was provided by data on the index of supply managers from ISM, which showed that the indicator in August rose to 61.3, the highest since 2004. Economists predicted that the index in August will be 57.5. According to the report, new orders, production rates and employment for the reporting period grew faster than in the previous month, while the growth of the inflation indicator slowed.

The next day, the main US stock indexes weakened again due to the fall in the shares of the technology sector in the light of speeches by top managers Facebook Inc and Twitter Inc in Congress. Fears due to additional tariffs on Chinese goods continued to put pressure on the market. In addition, the data on the US trade balance for July had a negative impact. According to the report of the Ministry of Trade, the deficit in the US trade balance rose to a five-month high in July, as exports of soybeans and civilian aircraft declined and imports reached a record level, indicating that trade could be a brake on economic growth in the third quarter.

On Thursday, the major US stock indexes again completed trading on negative territory, as shares of technology companies increased losses from the previous session, while concerns about the tension in world trade continued to put pressure on the market. The rather inconsistent block of US statistics also influenced the dynamics of the market. Data from Automatic Data Processing (ADP) showed that the growth rate of employment in the private sector of the US slowed in August, stronger than the forecasts of experts. According to the report, in August the number of employed increased by 163 thousand people compared to the index for July at 217 thousand, which was revised from 219 thousand. Analysts expected that the number of employed will increase by 190 thousand. The Ministry of Labor reported that the number Americans who applied for new unemployment benefits fell in late August to almost a fifty-year low. Initial applications for unemployment benefits, a gauge of layoffs in the US, fell by 10,000 to 203,000, seasonally adjusted for the week ending September 1. This is the lowest level of unemployment benefits since the end of 1969.

On Friday, the major US stock indices showed slight decrease after US President Donald Trump announced his readiness to introduce new duties on Chinese goods for an additional $ 267 billion. Trump also announced the beginning of trade negotiations with Japan. Additional pressure on the market was provided by the worries that the Fed could accelerate the rate of interest rate increases, which intensified after the release of the data on the labor market.

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