Markets Today: Zelensky Meeting, Home Depot Earnings, Palo Alto Forecasts
U.S. stock futures edged lower on Tuesday as investors awaited earnings from Home Depot and fresh remarks from Federal Reserve officials. Markets also digested updates on the Ukraine peace talks and strong forecasts from Palo Alto Networks.
1. Trump-Zelensky Meeting in Washington
U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky met in Washington on Monday to discuss possible steps toward peace.
The talks ended on a more optimistic note compared to their previous encounter. Trump pledged U.S. support for Ukraine’s security but did not outline clear terms. Reports suggested Ukraine may consider purchasing $100 billion in U.S. weapons with European backing in exchange for guarantees.
Trump also raised the possibility of trilateral talks with Russian President Vladimir Putin, following his recent Alaska meeting with the Russian leader.
Still, a peace deal remains distant. The main sticking point is territorial control in Donbas, which Ukraine insists on reclaiming, while Moscow demands further concessions.
2. U.S. Stock Futures Slip Ahead of Data and Fed Speeches
At 02:45 ET (06:45 GMT):
- S&P 500 futures were down 0.2% (–10 points)
- Nasdaq 100 futures fell 0.2% (–45 points)
- Dow futures slipped 0.1% (–50 points)
Investors are cautious ahead of the Jackson Hole Symposium, where Fed Chair Jerome Powell is expected to give clues on monetary policy. Fed Governor Michelle Bowman, who previously backed a rate cut, will also speak today.
Markets currently see an 83% probability of a quarter-point rate cut in September, according to CME FedWatch.
On the economic calendar, traders are also awaiting housing starts and building permits data for July.
3. Home Depot Leads Retail Earnings
Retail earnings take the spotlight this week. Home Depot (NYSE: HD) kicks things off on Tuesday, with Lowe’s, Target, and Walmart reporting later.
Analysts expect Home Depot’s Q2 revenue to rise 5.1%, compared with a 0.6% increase last year, according to LSEG.
Tariffs remain a risk. Although more than half of its goods are sourced in North America, some imported items could be affected. Home Depot has said it won’t raise prices, but certain products may be discontinued if tariffs persist.
4. Palo Alto Networks Delivers Strong Results
Palo Alto Networks (NASDAQ: PANW) impressed markets with strong quarterly results and an upbeat outlook for fiscal 2026.
- Revenue forecast: $10.48–$10.53 billion (above expectations of $10.43 billion).
- Adjusted EPS: $3.75–$3.85, topping estimates of $3.67.
The stock jumped 5% in premarket trading. Demand for AI-powered cybersecurity tools continues to grow amid rising cyberattacks and increased cloud adoption.
The company also announced leadership changes: founder Nir Zuk is retiring, with Lee Klarich taking over as CTO.
5. Oil Prices Fall on Peace Hopes
Crude prices slipped on Tuesday as optimism for Ukraine peace talks weighed on the market.
- Brent futures fell 0.4% to $66.35 per barrel.
- WTI futures dropped 0.4% to $62.44 per barrel.
Both benchmarks had gained nearly 1% on Monday after concerns about Indian imports of Russian oil.
Traders are watching whether Trump’s proposed three-way meeting with Zelensky and Putin will move forward in the coming weeks.
