Stocks mixed ahead of Trump-Zelensky talks / Photo: Andrew Harnik - GETTY IMAGES NORTH AMERICA/AFP/File
NYSE - LSE
Stocks mixed ahead of Trump-Zelensky talks
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.
The broad-based S&P 500 was flat and the tech-heavy Nasdaq rose slightly in early deals in New York. European markets were in the red in afternoon deals.
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's 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 "should not be rewarded" for its war.
"While expectations for a breakthrough remain low after Friday's Alaska meeting ended without a ceasefire, investors are keeping a close watch on the outcome of today’s discussions," 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's 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.
"While the official theme (of the retreat) is labour markets, investors will scrutinize any hint of September policy direction, especially after last week's mixed inflation data," 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's Nikkei ended up, posting a new record high and adding to gains on Friday after better-than-expected economic growth data.
- Key figures at around 1335 GMT -
New York - Dow: FLAT at 44,945.55 points
New York - S&P 500: FLAT at 6,449.78
New York - Nasdaq: UP 0.1 percent at 21,645.64
London - FTSE 100: DOWN 0.1 percent at 9,132.87
Paris - CAC 40: DOWN 0.6 percent at 7,872.83
Frankfurt - DAX: DOWN 0.1 percent at 24,327.36
Tokyo - Nikkei 225: UP 0.8 percent at 43,714.31 (close)
Hong Kong - Hang Seng Index: DOWN 0.4 percent at 25,176.85 (close)
Shanghai - Composite: UP 0.9 percent at 3,728.03 (close)
New York - Dow: UP 0.1 percent at 44,946.12 (close)
Euro/dollar: DOWN at $1.1676 from $1.1704 on Friday
Pound/dollar: DOWN $1.3537 at from $1.3557
Dollar/yen: UP at 147.86 yen from 146.85 yen
Euro/pound: DOWN at 86.23 pence from 86.34 pence
West Texas Intermediate: DOWN 0.1 percent at $61.91 per barrel
Brent North Sea Crude: DOWN 0.1 percent at $65.76 per barrel
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C.Acosta--GBA
