Trump-Zelenskyy Meeting Yields $100 Billion Arms Deal, Stocks Unmoved

The stock market remained largely stagnant Monday following a meeting between Donald Trump and Ukrainian President Volodymyr Zelenskyy in Washington D.C., which resulted in a $100 billion arms deal agreement and no ceasefire announcement. Analysts say the focus has shifted to Fed Chair Jerome Powell’s upcoming speech at Jackson Hole, as well as retail earnings reports. Although there was speculation surrounding a potential drone manufacturing plan between the U.S. and Ukraine, with details of specific weapons requested left undisclosed. The agreement did outline a $100 billion arms deal funded by European governments in exchange for American guarantees on Ukrainian security once a peace accord is reached. Meanwhile, a separate document outlines plans for a joint venture to produce drones in Ukraine.