Stocks Steady Ahead of Fed Symposium as Trump Floats Ukraine-Russia Peace Talks – US Market Wrap
Wall Street had a quiet start to a key Federal Reserve week, with geopolitics coming into play as Trump said he hopes to set up a trilateral meeting with Russia and Ukraine, while the White House welcomed Zelenskiy to discuss a potential peace deal.
Following a string of all-time highs for the S&P 500, the gauge fluctuated. The Trump administration was said to be in talks to acquire a 10% stake in Intel. When retail giants such as Walmart Inc. and Target report earnings this week, traders will get a close look at how American consumers fared during the early days of Trump’s tariff regime.
The yield on 10-year Treasuries increased two basis points to 4.34%. The Bloomberg Dollar Spot Index rose 0.2%. The UK’s 30-year inflation-linked yields reached their highest level since 1998. Oil prices rose slightly. Gold fluctuated.
The Kansas City Fed’s annual Economic Policy Symposium begins Thursday in Jackson Hole, Wyoming, marking the start of a busy week for the central bank. Fed chairs have used the prestigious event in the Grand Teton mountains to make key policy announcements.
Powell is expected to unveil the Fed’s new policy framework on Friday, outlining the strategy for achieving its inflation and employment targets. He may also provide some hints about the Fed’s thinking ahead of the September policy meeting.
