Major indices on the New York Stock Exchange started off mixed, remaining flat ahead of a meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky.
As of 10:40 a.m. on the 18th (Eastern Time), the Dow Jones Industrial Average rose 24.72 points (0.06%) to 40,970.84 at the New York Stock Exchange (NYSE), while the S&P 500 index decreased by 1.44 points (0.02%) to 6,448.36, and the Nasdaq index fell 19.18 points (0.09%) to 21,603.80.
After the much-anticipated summit between President Trump and Russian President Vladimir Putin ended without results, investors are now focusing on the meeting between President Trump and President Zelensky.
Aside from Federal Reserve Chair Jerome Powell's speech scheduled for the 22nd at Jackson Hole, there are no significant economic indicators or events to note.
Instead, market participants are paying attention to the scheduled meeting between Trump and Zelensky in the afternoon. The two leaders are expected to discuss measures following the results of the Trump-Putin summit over the weekend.
Russia is reportedly agreeing to provide Ukraine with security assurances equivalent to those of the North Atlantic Treaty Organization (NATO) if it hands over the territories it currently occupies in Ukraine. However, Zelensky maintains that Ukraine cannot concede any territory, making how the Trump-Zelensky meeting will proceed of great interest.
On this day, the gathering of the heads of state from the United Kingdom, Germany, France, Italy, and Finland at the White House to support Zelensky also shows the significance of the matter. If the outcome of the Trump-Zelensky meeting is positive, it is expected that the easing of geopolitical risks will be priced into the stock market.
Additionally, this week, earnings reports from major retailers such as Walmart and Target are scheduled. As these industries are directly affected by tariffs, it is anticipated that the uncertainty surrounding tariffs will provide insight into how this will translate into the real economy.
Chris Larkin, chief investment officer at E-Trade under Morgan Stanley, noted, "Retailer earnings will be in focus this week," adding that "the Federal Open Market Committee (FOMC) minutes and Powell's remarks at Jackson Hole will also be analyzed for clues by the market."