US Stocks End Lower
(MENAFN) The New York Stock Exchange concluded Monday with a slight downturn, as market participants remained cautious ahead of Federal Reserve Chair Jerome Powell’s upcoming address on Friday and forthcoming earnings reports from major retailers.
The Dow Jones Industrial Average experienced a marginal decline of 0.08%, slipping 34.3 points to settle at 44,911.82.
Meanwhile, the S&P 500 recorded a negligible drop of 0.01%, shedding 0.65 points to close at 6,449.15.
In contrast, the Nasdaq saw a modest increase of 0.03%, gaining 6.8 points and ending the day at 21,629.77.
Shares of prominent technology firms faced losses, with Microsoft and Meta declining by approximately 0.6% and 2.3%, respectively. These setbacks contributed to the broader market's weakness.
Throughout the week, traders are closely monitoring Powell’s upcoming speech for any “potential clues on rate cuts” that could emerge before year’s end.
Alongside this, attention is focused on the financial results from leading retail chains including Walmart, Target, Lowe’s, and Home Depot, as analysts search for “hints about the state of the American consumer.”
As the year approaches its conclusion, persistent worries in the market revolve around “high valuations, tariffs,” and “slowing job growth.”
Separately on Monday, U.S. President Donald Trump convened with the Ukrainian President and European heads of state for “highly anticipated talks” aimed at formulating a united stance to help end the Russia-Ukraine conflict.
Trump expressed “optimism” about the possibility of the U.S. and Europe reaching a consensus to offer Ukraine “security guarantees” as part of a broader peace initiative.
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