U.S. stock futures were pointing lower as President Donald Trump prepares to meet with Ukraine President Volodymyr Zelensky and European leaders in Washington on Monday.
A resolution in the Ukraine war could be a boon for markets if it reduces geopolitical uncertainty and buffers global energy supplies, creating a more stable environment for international trade after months of turmoil related to Trump’s tariff policy.
But a meeting between Trump and Russia’s President Vladimir Putin in Alaska Friday ended without a ceasefire agreement or other specific next steps being announced afterwards. Ukraine and Europe are nevertheless likely to be unhappy with reports that Trump may allow Russia to keep captured land.
Other events that could affect markets this week include the Federal Reserve conference in Jackson Hole, Wyoming at which traders are hoping Chair Jerome Powell will lay the groundwork for a series of interest-rate reductions in the months ahead. There’s also a raft of earnings reports from retailers including Walmart, Target, and Lowe’s.
Dow Jones Industrial Average futures fell 78 points, or 0.2%, S&P 500 futures were down 0.1%, and Nasdaq 100 futures slipped less than 0.1%.
The yield on the 10-year Treasury retreated slightly to 4.297%, though it’s still a little bit higher than it was a week ago. The two-year yield was lower at 3.748%—it has slipped from about 3.8% a week ago and is down from almost 4% at the start of August as traders added to bets that Fed rate cuts are on the way.
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