Wall Street’s main indexes declined on Monday ahead of a week that is expected to see an extent of progress in terms of a peace deal for Ukraine, as well as signals from the Federal Reserve on interest rates. Ukrainian President Volodymyr Zelenskyy and his European allies are preparing for talks with Donald Trump.
The Dow Jones Industrial Average fell 22.43 points, or 0.05%, to 44,923.69. After a streak of record highs, the S&P 500 showed signs of hesitation on Monday. The S&P 500 fell 1.24 points, or 0.02%, to 6,448.55, while the Nasdaq Composite dropped 3.31 points, or 0.01%, to 21,619.67 as of 8:05 p.m. IST.
Five of the 11 S&P 500 sectors declined, with energy down 0.8%, falling the most.
Shares of Palantir and Intel led losses on Monday, slipping close to 2%, while the decline was offset by gains in United Health Group and Nvidia, with an advance of 3% and 1% respectively.
Tesla’s share price was also trading upwards, while stocks of Apple, AMD, Amazon and Microsoft saw a dip.
The Kansas City Fed’s annual Economic Policy Symposium will begin Thursday evening in Jackson Hole, Wyoming. On Friday, Chair Jerome Powell is set to outline the Fed’s new policy framework and its strategy for meeting inflation and employment targets.
Powell is also expected to offer clues about the Fed’s stance ahead of its September policy meeting. So far this year, officials have kept interest rates unchanged as they assess the economic effects of the Trump administration’s tariffs.
At market open, the Dow Jones Industrial Average fell 8.78 points, or 0.02%, to 44,937.34. The S&P 500 fell 5.16 points, or 0.08%, to 6,444.63, while the Nasdaq Composite dropped 6.16 points, or 0.03%, to 21,616.82.
