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The week at the US stock market began with decline due to the fall of the conglomerate sector and investors' expectations of a meeting between the leaders of the USA and China at the G20 summit on June 28-29 in Japan.

On Monday, China’s vice minister of commerce announced that the negotiators were negotiating, and confirmed that both parties must compromise in order to conclude the deal. The shares of the health sector came under pressure after reports that President Donald Trump would issue an increase in the transparency of health spending.

On Tuesday, the decline continued due to disappointing data on consumer confidence and sales of new homes, as well as the collapse of technology sector stocks. In addition, the focus of investor attention was attracted by the statements by Fed Chairman Jerome Powell. The Conference Board report showed that the US consumer confidence index deteriorated significantly in June and now stands at 121.5, the lowest since September 2017. Experts expected that the index will decrease only to 131.2. Meanwhile, the Commerce Department reported that sales of new homes fell in May by 7.8%, to an annual level of 626,000, after a decrease of 3.7% to a revised level of 679,000 in April. It was expected that sales would rise to 680,000 from 673,000, which were originally reported. As for Powell's speech, he noted that the Fed is studying whether uncertainty requires lowering interest rates. Powell added that the prospects have changed since the beginning of May, when the Fed did not see any serious reasons for changing interest rates.

The next day, the major stock indices fell again, as the collapse of the utility sector shares offset positive news from US Treasury Secretary Mnuchin’s statement that the United States and China are close to concluding a trade deal. “We have gone about 90% of the way (with the deal), and I believe that there is a way to complete this,” said Mnuchin, without providing detailed information about the remaining 10% of the way to reach the final agreement. He also said he was confident that the US president and the president could make progress in the stalled trade negotiations at the upcoming G-20 meeting this weekend.

On Thursday, the market moved to growth. Investors in anticipation of the G-20 summit were hoping to get hints about the US-China trade negotiations. It was expected that the two leaders would discuss trade issues, and investors would look for clues about whether China and the United States could make progress in ending the trade war. In the morning, market participants received conflicting reports on trade negotiations. The Chinese publication South China Morning Post said, citing anonymous sources, that officials from Washington and Beijing agreed on a preliminary truce in their trade dispute before the G20 summit this weekend. However, The Wall Street Journal reported later, with reference to Chinese officials, that the Chinese president intends to present the US president with a package of conditions that must be met by the United States before Beijing is ready to return to discussing a settlement of the trade dispute between the two countries. According to sources, among the preconditions - the requirement to lift the ban on the sale of US technology Huawei.

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