Wall Street shares fluctuated while Europe stock markets fell Monday ahead of pivotal talks between US president Donald Trump, Ukrainian counterpart Volodymyr Zelensky and European leaders in Washington.
Around five minutes into trading, the Dow Jones Industrial Average was flat at 44,958.30, as was the S&P 500 Index at 6,449.56.
The tech-heavy Nasdaq Composite Index was slightly up by 0.1 per cent at 21,635.41.
Among companies set to report their financial results this week are Home Depot, Lowe鈥檚 and Walmart, with markets keeping tabs on the effects of President Donald Trump鈥檚 sweeping new tariffs this year.
While Trump has imposed a 10-per cent tariff on almost all trading partners and various higher levels for dozens among them, economists have noted that it takes time to gauge the impact of duties on consumer prices.
鈥榃e have to wait for the parade of the big box retailers tomorrow and the rest of the week,鈥� said Art Hogan of B Riley Wealth Management.
鈥業n the tariff environment we鈥檙e in, that鈥檚 probably going to be revelatory,鈥� he added. 鈥榃e鈥檒l find out how they鈥檙e mitigating tariffs and what their margins look like.鈥�
Investors will also be monitoring remarks from central bankers this week as policymakers head to Wyoming for the annual Jackson Hole Economic Policy Symposium.
Oil prices seesawed as traders weighed the impact of the talks and they could mean for sanctions-hit Russia, a major producer of crude oil.
The gathering is a follow-up summit to Trump鈥檚 meeting with Russian president Vladimir Putin in Alaska, which failed to produce a ceasefire in the war in Ukraine.
Zelensky, who is under pressure from Trump to give up Crimea and abandon its NATO ambitions, said ahead of the gathering in Washington that Russia 鈥榮hould not be rewarded鈥� for its war.
鈥榃hile expectations for a breakthrough remain low after Friday鈥檚 Alaska meeting ended without a ceasefire, investors are keeping a close watch on the outcome of today鈥檚 discussions,鈥� said David Morrison, senior analyst at financial services firm Trade Nation.
Investors are also focused on a speech this week by US Federal Reserve chief Jerome Powell at the annual retreat of global central bankers in Jackson Hole, Wyoming.
Markets hope Powell will provide more clues about the Fed鈥檚 plans for interest rates when it meets next month after data last week provided a mixed picture about inflation.
Consumer inflation remained steady last month, but producer prices accelerated.
鈥榃hile the official theme (of the retreat) is labour markets, investors will scrutinize any hint of September policy direction, especially after last week鈥檚 mixed inflation data,鈥� said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
In Asia, Shanghai, Sydney and Taipei were higher Monday, while Hong Kong, Seoul and Jakarta fell back.
Japan鈥檚 Nikkei ended up, posting a new record high and adding to gains on Friday after better-than-expected economic growth data.
