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The major averages ended Monday near flat after posting a winning week. Traders awaited key retail earnings and Federal Reserve Chair Jerome Powell’s annual speech at the central bank’s Jackson Hole summit.
The Dow Jones Industrial Average subtracted 34.3 points to 44,911.82.
The S&P 500 index sagged 0.65 points to 6,449.15.
The NASDAQ forged out a gain of 6.98 points to 21,629.77.
Shares of Meta Platforms and Microsoft dropped about 2.3% and 0.6%, weighing on the broader market.
Investors this week will parse through financial results from big-box retailers, including Home Depot, Lowe’s, Walmart and Target, for clues about the health of the U.S. consumer. Concerns about elevated valuations, tariffs and moderating job growth remain top-of-mind for market participants heading into the back half of the year.
The Fed will also continue to be in focus this week as central bank members travel to Jackson Hole, Wyoming, for the annual economic policy symposium.
Investors will be monitoring the event for clues about the future path of rates. Fed funds futures are pricing in a nearly 85% likelihood that the central bank cuts rates at its next policy meeting in September
Prices for 10-year Treasury lost ground Thursday, raising yields to 4.34% from Friday’s 4.32%. Treasury prices and yields move in opposite directions.
Oil prices gained 55 cents to $63.35 U.S. a barrel.
Gold prices decreased $4.70 at $3,377.90 U.S. an ounce.
