Global markets paused as investors awaited outcomes from Trump’s meetings with Ukraine’s Zelenskiy and European leaders. Fed Chair Powell’s speech at Jackson Hole is anticipated. Stocks in Australia and China surged, while Wall Street remained flat. Bond yields rose, oil prices increased. Trump met with Zelenskiy and European leaders in Washington to discuss Ukraine-Russia war, with a focus on security and peace agreements. Jackson Hole symposium is next, where Fed Chair Powell’s speech on Friday may indicate a rate cut in September. Yields on 30-year sovereign bonds continue to rise globally, sparking concerns about inflation and fiscal spending. High-income earners in the US drive consumer spending, but escalating tariffs could impact spending habits. Labor income growth and household delinquency rates may continue to support consumer spending, but caution remains. Tomorrow’s market movers include Australian consumer sentiment, Euro zone current account, Canada inflation, and US earnings reports.

Read more at Yahoo Finance: Muted Monday, eyes on Trump summitry