Christmas week began with difficulties in the work of the US government, which temporarily ceased operation.

President Donald Trump again sharply criticized the Fed for raising rates, and Finance Minister Mnuchin held talks with the heads of the six largest US banks, who confirmed that they have enough liquidity to continue lending and that “markets continue to function properly.” Investors interpreted this as an attempt to return confidence to the market. All this at once reflected in the dynamics of the stock market, which instantly rushed down.

On Tuesday, the markets were closed due to the celebration of Christmas.

On Wednesday, the fall gave way to significant growth. Dow recorded its largest increase in points in history. The main driver was the shares of retailers, which received support after the publication of data on purchases during the holiday season, which were the best in the last six years. According to a Mastercard report, sales during the holiday shopping season in the United States grew by 5.1%, exceeding $ 850 billion, as buyers were encouraged by a sustainable economy and early discounts. Market participants were also reassured by the situation around the possible dismissal of Fed Chairman Powell.

On Thursday, after a day of uncertain dynamics, stock indexes in the last hour of trading finally moved to growth and ended the session in a positive territory. In the course of trading, pressure on the indices was exerted by renewed tensions between China and the United States. Reuters reported that President Trump is considering signing a decree in the new year prohibiting US companies from using Chinese equipment from Huawei and ZTE from Huawei and ZTE. Investors are worried that the president’s decision could jeopardize negotiations between the two largest economies in the world who are trying to conclude a trade deal. The report of the Conference Board, which showed that the consumer confidence index fell to 128.1 in December from 136.4 in November (revised from 135.7), also had a negative impact on the mood of market participants. Analysts had expected the index to be 133.7.

On Friday, US stock indices again showed mixed dynamics in conditions of high volatility. The market participants were influenced by ambiguous economic data. The National Association of Realtors reported today that contracts for the purchase of previously owned homes unexpectedly fell in November. According to her, the index of pending home sales fell by 0.7% compared with the previous month, to 101.4 points. Recall that in October, the index fell by 2.6%. Economists forecasted that in November the index would increase by 0.7%. Compared to last year, unfinished housing sales in November decreased by 7.7%, which is the eleventh consecutive fall in a row. At the same time, another report showed that Chicago's PMI in December rose to 65.4 from 66.4 in November. The figure was significantly higher than economists' forecast - 62.

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