US President Donald Trump has met with Ukrainian President Volodymyr Zelensky, saying that Russian President Vladimir Putin wants the war to end. The meeting comes ahead of a gathering of European leaders in Washington to discuss a possible peace deal.
The proposed agreement could involve Ukraine relinquishing control over its eastern region to Russia, while Russia would withdraw from Southern regions of Kherson and Zapopizhzhia. However, Ukraine has previously rejected any notion of ceding land to Russia.
Trump stated that Zelensky could end the war “almost immediately” by acquiescing to Moscow’s demands. The conflict has lasted for over three years and severely disrupted global supply chains, resulting in inflationary pressures on commodity prices.
Economic data released Monday includes eurozone trade figures for June. Attention is also focused on the Federal Reserve’s Jackson Hole symposium this week, where Chairman Jerome Powell will discuss the economic outlook and the Fed’s policy framework. A Fed rate cut in September is expected, but any less-than-dovish talk from Powell could be a setback for risk sentiment.
Retail sector earnings are also on the horizon, with major companies such as Home Depot, Target, Lowe’s, and Walmart reporting their quarterly results. Valuations have been supported by a solid earnings season, with S&P 500 EPS growth of 11% year-over-year.
Source: https://www.investing.com/news/stock-market-news/european-stocks-mostly-lower-european-leaders-head-to-washington-4196744