U.S. stock-market indexes traded tentatively higher Tuesday morning as investors shifted their attention away from a landmark meeting between President Donald Trump and Kim Jong Un to the start of a series of important central-bank meetings kicking off later in the day with the Federal Reserve.
What are markets doing?
The Dow Jones Industrial Average DJIA, -0.10% was 34 points, or 0.1%, lower at 25,291.
The stock-market moves come after modest gains for U.S. stocks on Monday in the run-up to the U.S.-North Korea summit in Singapore.
What’s driving the market?
U.S. stocks inched higher as the historic summit in Singapore—the first between a U.S. sitting president and a North Korean leader—came to an end.
Trump and Kim signed a joint document pledging to work toward the complete denuclearization of the Korean Peninsula, but the statement was criticized as lacking detail on the verification of the process.
Beyond geopolitics, traders were focusing on central-bank meetings this week. The Fed, led by Chairman Jerome Powell, is expected to raise interest rates on Wednesday. The U.S. central bank’s two-day meeting begins Tuesday. European Central Bank policy makers are expected to announce the timing for unwinding its bond buying when they meet on Thursday.
What strategists are saying
“It looks a lot like ‘buy the rumor, sell the fact’ where the Trump-Kim summit is concerned. Having shrugged off the failed G-7 meeting, markets are finding it hard to make progress this morning despite the bullishness that was very much in evidence