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US stock markets ended Monday's session with little movement as investors weighed their next steps while awaiting quarterly earnings from major retailers and the Federal Reserve's annual symposium in Jackson Hole.
This week Walmart, Home Depot, and Target are set to release their financial results. Analysts suggest these reports will shed light on how inflation pressures and ongoing trade uncertainty are shaping consumer behavior in the United States.
A Monday meeting at the White House between President Donald Trump and Ukrainian President Volodymyr Zelensky had no significant effect on market sentiment.
Data released Friday showed retail sales rising in line with expectations, yet consumer confidence declined amid growing inflation concerns. On the same day, the Wells Fargo National Association of Home Builders housing index dropped to its lowest reading since December 2022.
Despite the quiet start to the week, Wall Street has posted gains for two consecutive weeks. On Friday, the Dow Jones Industrial Average touched a fresh intraday record, supported by hopes of a Federal Reserve rate cut and stronger-than-expected corporate earnings, even as trade uncertainty lingers.
US stock indexes closed Monday with no clear direction, as some slipped while others posted modest gains.
Closing figures:
Intel shares dropped 3.66% after a Bloomberg report suggested that the Trump administration is considering acquiring a 10% stake in the chipmaker.
Workforce management software provider Dayforce saw its stock soar by 26%. The rally followed news that private equity firm Thoma Bravo is in talks to acquire the company.
Renewable energy companies recorded strong gains. SunRun shares jumped 11.35%, while First Solar advanced 9.69%. The rally came after the US Treasury Department issued updated guidelines for federal clean energy tax credits, which turned out to be less restrictive than investors had feared.
European markets opened higher on Tuesday, while oil prices slipped as traders weighed diplomatic signals hinting at a potential truce between Russia and Ukraine and looked ahead to upcoming central bank meetings.In Asia, trading remained subdued as investors waited for cues from the Federal Reserve ahead of its annual gathering in Jackson Hole, Wyoming.
European stock exchanges closed the day with modest gains, as investors balanced optimism with caution.
European index moves:
The European defense stocks index slid 1.3%. Swedish contractor Saab AB led the decline, falling 3.7%.
Attention now turns to the annual Federal Reserve symposium scheduled for August 21–23. Fed Chair Jerome Powell is expected to outline the central bank's economic outlook and policy direction.
According to CME FedWatch, markets assign an 83.6% probability of a quarter-point rate cut at the September 17 meeting.
The MSCI Asia-Pacific index outside Japan dipped 0.2%. In Japan, the Nikkei initially hit fresh records but ended the session down 0.4%. The reversal followed a 4% slump in SoftBank Group shares after the company announced a 2 billion dollar investment in struggling US chipmaker Intel.
The US dollar weakened by 0.2% to 147.64 yen. The euro gained 0.1% to reach 1.1670 dollars. The dollar index was little changed after a 0.2% rise in the previous session.
US crude fell 0.9% to 62.88 dollars a barrel, while Brent slipped 0.8% to 66.07 dollars. Spot gold advanced 0.3% to 3339.54 dollars an ounce.
Bitcoin declined 1.4% to 114,814.91 dollars, while ether slid 2.7% to 4,224.07 dollars.