WASHINGTON (dpa-AFX) - Stocks have shown a lack of direction over the course of the trading session on Monday, with the major averages bouncing back and forth across the unchanged line following back-to-back positive weeks.
Currently, the major averages are posting modest losses. The Dow is down 22.53 points or 0.1 percent at 44,923.59, the Nasdaq is down 27.12 points or 0.1 percent at 21,595.86 and the S&P 500 is down 5.54 points or 0.1 percent at 6,444.26.
The choppy trading on Wall Street comes as traders look ahead to a meeting between President Donald Trump, Ukrainian President Volodymyr Zelenskyy and other European leaders later today.
The meeting at the White House comes after Trump's meeting with Russian President Vladimir Putin last Friday in Alaska yielded some progress but failed to result in a concrete agreement to end the war in Ukraine.
In a post on Truth Social on Sunday, Trump claimed Zelenskyy has the power to 'end the war with Russia almost immediately, if he wants to.'
Traders also looking ahead to comments from central bank officials at the Jackson Hole Economic Symposium later this week along with earnings news from big-name retailers like Walmart (WMT) and Home Depot (HD).
Federal Reserve Chair Jerome Powell is scheduled to speak at the symposium on Friday, with his remarks potentially impacting the outlook for interest rates.
According to CME Group's FedWatch Tool, there is an 83.2 percent chance the Fed will lower interest rates by a quarter point at its next monetary policy meeting in September.
Sector News
Most of the major sectors are showing only modest moves, contributing to the lackluster performance by the broader markets.
Natural gas stocks have shown a notable move to the downside, however, with the NYSE Arca Natural Gas Index falling by 1.4 percent amid a decrease by the price of the commodity.
Gold and oil producer stocks are also seeing some weakness on the day, while oil service stocks have moved to the upside.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turning in a mixed performance during trading on Monday. Japan's Nikkei 225 Index advanced by 0.8 percent, while Hong Kong's Hang Seng Index fell by 0.4 percent.
Meanwhile, European stocks have moved mostly lower on the day. While the U.K.'s FTSE 100 Index is roughly flat, the German DAX Index is down by 0.4 percent and the French CAC 40 Index is down by 0.7 percent.
In the bond market, treasuries are extending the downward move seen over the two previous sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 1.7 basis points at 4.345 percent.
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