US Stocks Remain Muted
US stocks traded with small movements on Monday as markets awaited fresh catalysts in the week and incoming hints on the Federal Reserve's monetary policy outlook. The S&P 500, Nasdaq 100, and Dow were all relatively flat to remain near their record highs touched last week. Minutes from the FOMC meeting and this week's Jackson Hole Symposium are likely to deliver hints on rate directions.
Equities have been supported by bets of multiple rate cuts by the Fed this year, stemmed by concerns of a softer labor market and hopes of disinflation after a CPI release that did not reflect triggers from tariffs. Chip producers and stocks with exposure to AI bets were broadly higher, with Nvidia adding 0.5% and remaining near its record despite export controls by President Trump. Also, retail giants were mixed ahead of their earnings dump this week. On the political front, EU leaders and Ukrainian President Zelensky were due to meet after Trump's summit with Russian President Putin over the weekend.
Source: Newsmaker.id