Global stocks traded near record highs as U.S. President Trump and Russian President Putin discussed Ukraine. U.S. Treasury bond prices fell as markets anticipated a Federal Reserve rate cut. The Dow hit a record high, but the S&P 500 and Nasdaq dropped. U.S. retail sales rose 0.5% in July, boosting confidence in the economy.

European shares hit a five-month high before retreating, supported by positive earnings. The MSCI All Country World Index remained flat near record levels. Trump and Putin met in Alaska to discuss a ceasefire in Ukraine. Investors await details and agreements, with Ukraine’s bonds still distressed.

The two-year note yield rose to 3.751%, while the 10-year note yield reached 4.32%. In currency markets, the dollar weakened against the yen and franc, while the euro strengthened. Japanese GDP grew by 1.0% in the second quarter. Brent and U.S. crude oil prices fell, while gold prices rose slightly.

Cryptocurrency markets stabilized after bitcoin hit a record high. Gold futures settled flat, and the dollar index dropped. The outcome of talks between Trump and Putin will impact markets, with investors cautiously optimistic about a ceasefire in Ukraine.

Read more at Yahoo Finance: World equities flat, crude oil prices fall as Trump, Putin hold high-stakes talks