The major averages concluded Monday with minimal movement, following a week characterized by positive performance. Market participants were poised for significant retail earnings reports and the annual address by Federal Reserve Chair Jerome Powell at the central bank’s Jackson Hole summit.

The Dow Jones Industrial Average experienced a decline of 34.30 points, representing a decrease of 0.08%, concluding the trading session at 44,911.82. The S&P 500 concluded the trading session with a marginal decline of 0.01%, finishing at 6,449.15. In contrast, the Nasdaq Composite experienced a slight increase of 0.03%, closing at 21,629.77. Meta Platforms and Microsoft experienced declines of approximately 2.3% and 0.6%, respectively, contributing to downward pressure on the overall market.

This week, market participants will analyze the financial outcomes from major retail players such as Home Depot, Lowe’s, Walmart, and Target, seeking insights into the vitality of the U.S. consumer sector. Market participants are increasingly focused on the implications of elevated valuations, tariffs, and the trend of moderating job growth as they approach the latter half of the year. “Retailer earnings reports this week are likely to reflect tariff concerns, inflation uptick and an anticipated economic slowdown,” stated Scott Wren, senior global market strategist at Wells Fargo Investment Institute. He noted that the equity rally observed in recent weeks is “likely to stall” as a consequence.

This week, attention will remain on the Federal Reserve as central bank officials convene in Jackson Hole, Wyoming, for the annual economic policy symposium. Market participants will be closely observing the event for insights regarding the prospective trajectory of interest rates. The current market expectations indicate an approximately 83% probability that the central bank will implement a rate cut during its forthcoming policy meeting in September, as per the analysis provided by CME’s FedWatch tool.

The three major averages have concluded their second consecutive week of positive performance, which additionally signifies the fourth week of gains in the last five for both the S&P 500 and the Nasdaq. Last week, small-cap stocks exhibited superior performance as market participants positioned themselves in anticipation of impending rate reductions.