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Coronavirus over the past week has strengthened its influence on the global economy in general and the US stock market in particular.

Outside of China, the infections have been reported in more than 10 countries, including Thailand, France, Japan and the United States. This has led to significant decrease in major US stock indices. The pessimism at the market was also reinforced by reports of missile bombardment of the US Embassy in Baghdad on Sunday, which intensified the tensions between the US and Iran. Market participants also studied the report from the Department of Commerce, which showed that sales of new homes in the US unexpectedly declined in December. According to the report, in December, the sales of new homes fell by 0.4%, to an annual level of 694,000, from revised downward 697,000 in November. Economists expected new home sales to rise by 1.5%, to 730,000 from the 719,000 originally reported in the previous month. Meanwhile, the report also reported that the average selling price of new homes sold in December was $ 331,400, which is 3.3% higher than in November ($ 320,900) and 0.5% higher than in December 2018 ($ 329,700). In total, 681,000 new homes were sold in 2019, which is 10.3% higher than in 2018.

The next day, the market began to recover after the largest sale in three months. World markets stabilized after the head of the World Health Organization (WHO) said it was confident in China's ability to contain the new coronavirus. Market participants also studied the mixed macro statistics block and a new batch of corporate reporting. The report from the Department of Commerce showed that new orders for major US-made capital goods fell the most in eight months in December, and shipments were weak, suggesting further reductions in business investment in the fourth quarter are the drag on economic growth. According to the report, orders for non-defense capital goods, excluding airplanes, fell 0.9%, as demand for machinery, metals and electrical equipment, appliances and components decreased. This was the biggest decline since April. November data was revised downward to + 0.1% from + 0.2%. In turn, the data provided by the Conference Board showed that the US consumer confidence index rose in January, helped by a more positive view of Americans on the labor market. The consumer confidence index rose to 131.6 from 128.2 in December. Economists expected the index to drop to 128.0. The index measuring consumers' assessment of the current business and labor market conditions rose to 175.3 from 170.5 in December. The index, which tracks consumer forecasts regarding future conditions, rose to 102.5 from 100.0.

On Wednesday, the indices froze in neutral territory, as the strong growth in Apple (AAPL) and Boeing (BA), triggered by the publication of quarterly reports, was offset by concerns about the negative impact of the new coronavirus on the global economy, as well as the disappointment with the quarterly results of several other large companies. Investors also responded positively to quarterly results / forecasts of companies such as General Electric Co. (GE), Dow Inc. (DOW), McDonald's Corp. (MCD) and Mastercard Inc. (MA). Market participants also analyzed the results of the Fed meeting, which left its key rate unchanged and reiterated its intention so far not to take any action. The Fed gave a contradictory assessment of the state of the economy, pointing to moderate growth in consumer spending, while in December they talked about "strong" growth. In addition, the regulator noted the weak investment of companies. Fed officials said the current range of federal funds rates will help bring annual inflation back to the 2.0% target set by the central bank.

On Thursday, the main US stock indexes showed slight growth due to the increase in the financial sector and the utilities sector. Many companies suspended operations in China, which alarmed financial markets around the world. A number of large companies, including Apple Inc (AAPL) and Starbucks Corp (SBUX), warned of the negative impact of disruptions in operations on their financial performance. Market participants also drew attention to the report of the US Department of Commerce, which showed that, according to preliminary estimates, US economic growth in the fourth quarter continued at the same pace as in the previous quarter. According to the report, in the fourth quarter real GDP grew by 2.1%, according to economists. As noted in the Ministry of Commerce, the GDP growth rate did not change as a result of the decline in imports, the acceleration of government spending and a smaller reduction in investments in non-residential premises, which were offset by a more significant reduction in investments in private equipment and a slowdown in consumer spending. This report also showed that the US economy grew by 2.3% last year.

The week ended with noticeable decrease, again the fault was concerns about the economic consequences of coronavirus in China. On Thursday, the World Health Organization (WHO) announced that the coronavirus epidemic in China is a global emergency. Meanwhile, revised data from the University of Michigan showed that consumer sentiment in the US unexpectedly improved in January compared with the previously announced deterioration. According to the data, the consumer sentiment index for January was revised upwards to 99.8 from a preliminary value of 99.1. The index rose compared to the final December figure of 99.3. The upward revision came as a surprise to economists, who expected the index to remain at 99.1.

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