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A statement by US Secretary of Commerce Wilbur Ross on Sunday the day before that American companies will be licensed to sell components of Chinese Huawei Technologies Co. in the very near future became the main reason for the moderate growth of major US stock indexes at the beginning of the previous week.

In addition, the market received support from a fairly strong corporate reporting season. According to FactSet, of the 360 companies included in the S&P 500 index that have already reported, 75% showed excess profits for the last reporting period. At the same time, data on production orders were worse than expected. According to the report by the US Department of Commerce, orders for manufactured goods fell 0.6% after falling 0.1% in August. Economists predicted that orders would fall by 0.5% in September. At the same time, the orders for capital goods not related to defense, with the exception of aircraft, which are considered as a measure of business equipment spending plans, fell by 0.6% instead of a decrease of 0.5%, reported last month. Deliveries of industrial goods fell 0.2% after falling 0.3% in August.

On Tuesday, the market experienced mixed dynamics. According to Reuters, China insisted that US President Trump abolish additional tariffs on Chinese goods worth about $ 125 billion, introduced in September, as part of the "first phase" of the trade deal. The Chinese publication South China Morning Post said that China needs a more “firm US commitment to abolish tariffs” for Xi Jinping to visit the United States to sign the “first phase." According to sources, Beijing is worried that it may have made too many concessions and wants something from Washington to “make the deal more balanced.” Several important macro reports came out on the same day. Institute for Supply Management (ISM) report ) pointed to the acceleration of growth in activity in the US services sector in October. According to the report, the ISM services business activity index rose to 54.7 in October from 52.6 in September. Economists expected the indicator to rise to 53.4. Meanwhile, the review of vacancies and employee turnover forces (JOLTS), published by US Bureau of Labor Statistics showed that in September the number of vacancies fell to 7.024 million from 7.301 million in August (revised from 7.051 million). Analysts expected the number of vacancies to decrease to 7.211 million.

The mixed dynamics continued the next day as market participants paused after the recent rally, triggered by stronger than expected corporate reporting and hopes for progress in trade negotiations between Washington and Beijing. According to Refinitiv’s IBES, of the 383 S&P 500 companies that have already reported third quarter results, nearly 75% have exceeded expectations.

On Thursday, the main US stock indexes rose slightly amid conflicting reports about US-China trade relations. The focus was also on the new corporate segment reporting unit. China's Commerce Department said Thursday that Beijing agreed with Washington to phase out existing trade tariffs between the two countries in order to reach the so-called “first phase” trade agreement. In addition, China's Xinhua State News Agency reported that Beijing is also considering lifting restrictions on poultry imports. Then Fox news reported that the US and China want to conclude the first stage of the deal on paper by the end of next week. However, Reuters, citing a source in the White House, reported that the White House plan to reduce tariffs for China is facing stiff internal opposition; and the final decision has not yet been made

The week ended with a slight increase, the reason was again the situation with relations between the United States and China. Some support to the market was provided by corporate segment reporting.

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