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The previous week began for the US stock market with small increase.

Investors did not show any noticeable activity before the publication of the corporate reporting unit. Also in the focus of attention were trade negotiations between the United States and China. According to the South China Morning Post, US trade representatives are likely to visit China next week to meet with Chinese officials after the G20 for the first time. The focus of market participants was also a new portion of Twitter-criticism from US President Trump to the Fed because of “too strong and fast” rate hikes and tightening policies, in which he also advised the Fed to “reduce more” rates at the upcoming 30th meeting. July 31st.

On Tuesday, moderate growth continued due to a positive reaction to quarterly reports and forecasts from companies such as Coca-Cola and United Technologies. The market was also supported by news that US trade negotiators will travel to Shanghai on Monday for negotiations. Another positive thing for the market was the announcement of an agreement between President Trump’s administration and fiscal leaders for 2020-2021 fiscal years and an increase in the national debt ceiling.

On Wednesday, growth continued as investors analyzed a new block of quarterly reports, as well as a message on the opening by the US Department of Justice of an antitrust investigation against major technology companies. Over 25% of S & P 500 companies posted quarterly figures for the second quarter. According to FactSet, of these companies, 78% showed higher than expected earnings for the last reporting period. Investors also analyzed data for the United States. As reported by IHS Markit, the seasonally adjusted business activity index in the US private sector was 51.6 in July compared with 51.5 in June and remained above the three-year low recorded in May. Meanwhile, data from the Ministry of Commerce showed that in June, sales of new homes increased by 7.0%, to a seasonally adjusted annual level of 646,000 units. The May sales pace was revised to 604,000 units from the previously announced 626,000 units. Economists forecasted that sales of new homes, which account for about 11% of sales in the housing market, increased to 660,000 units in June.

On Thursday, the dynamics changed and the major stock indexes moved down. Investors analyzed the block of mixed quarterly reporting, which indicated a slowdown in the global economy, as well as comments from the ECB President on monetary policy. About a third of the S & P 500 companies have already announced financial results for the second quarter. According to FactSet, of these companies, 75% reported receiving quarterly earnings that exceeded expectations. On Wall Street, the ECB President Draghi’s comments were also carefully reviewed. He noted that he did not see a significant risk of recession in the region. Many traders saw this as a sign that the incentives offered would be less significant than expected. Earlier, the ECB kept rates unchanged, hinting at further easing policies, as well as lowering rates.

The week ended with a significant increase due to the positive reaction of investors to solid reporting by Alphabet (GOOG) and Twitter (TWTR), as well as preliminary data on US GDP, which showed that economic growth in the country slowed down less than expected in the second quarter. However, the further growth was constrained by statements by White House Economic Adviser Qudlow, which weakened expectations for a significant breakthrough as a result of the US-China trade negotiations next week. As for the data, the Department of Labor reported that the gross domestic product of the United States grew by 2.1% year on year in the second quarter, after rising by 3.1% in the first quarter. Economists forecasted the increase of 1.8%.

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