Wall Street ends on muted note ahead of retailers’ earnings

WALL STREET’S main indexes closed roughly flat on Monday, after struggling for direction while investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the US Federal Reserve’s annual symposium in Jackson Hole.

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Walmart, Home Depot and Target, among others, are set to report results this week and are likely to indicate how trade uncertainty and inflation expectations have affected US consumers.

Investors are also closely watching the Fed’s Jackson Hole, Wyoming, conference between Aug. 21 and 23, where Fed Chair Jerome H. Powell is expected to speak, could offer more clarity on the economic outlook and the central bank’s policy framework.

Talks at the White House on Monday between US President Donald J. Trump and Ukrainian President Volodymyr Zelensky failed to move the market significantly.

“It’s a quiet day, with investors getting ready for things to come,” said Jed Ellerbroek, portfolio manager at Argent Capital. “The most important event is Powell’s speech, as we expect updated thoughts about how the Fed is viewing this economic environment where inflation is at a fairly high level while unemployment seems to have a rising trend.”