US: Stocks little changed as European leaders meet Trump

[NEW YORK] Wall Street’s major indexes were little changed on Monday as traders awaited the outcome of talks involving Ukraine’s Volodymyr Zelensky, other European leaders and US President Donald Trump – amid hopes of a Russia-Ukraine peace deal.

Markets were also treading water ahead of earnings reports from major US retailers this week, alongside a key speech by Federal Reserve Chair Jerome Powell on Friday.

The Dow Jones Industrial Average closed 0.1 per cent down at 44,911.82, while the broad-based S&P 500 Index was flat at 6,449.15.

The tech-focused Nasdaq Composite Index was flat as well at 21,629.77.

European leaders were at the White House on Monday alongside Zelensky for high-stakes talks with Trump aimed at bridging major differences over a potential peace deal with Russia – more than three years since Moscow’s invasion of Ukraine.

But the jury is still out on the result of their meetings.

All eyes are on the talks, particularly “if there will be peace and what the costs of the peace will be,” said Peter Cardillo of Spartan Capital Securities.

Powell’s speech at the end of the week – at the annual Jackson Hole Economic Policy Symposium – will also be closely watched for indications of when the central bank might cut interest rates again.

Cardillo added that this week will bring many earnings reports from retailers, including Home Depot and Walmart.

“That’ll give an indication of what the consumer is thinking about, the effects of the tariffs,” he said, referring to duties imposed by Trump since January.

Also “extremely important” is the forward guidance provided by companies, he noted. AFP