Stock futures traded lower Monday as markets cooled off following a winning week on hopes for rate cuts from the Federal Reserve. Futures tied to the Dow Jones Industrial Average edged down 47 points or 0.2%. S&P 500 futures and the Nasdaq 100 futures were down 0.1% each. Tesla shares dipped about 0.7% after The Times, a London-based newspaper, reported that the electric car maker is now offering discounts of up to 40% on leased vehicles in the country as sales slump. Shares of Novo Nordisk added more than 4% after the company’s Wegovy obesity drug was granted accelerated approval from the U.S. Food and Drug Administration for the treatment of a serious liver disease. The Fed will continue to be in focus this week as central bank members travel to Jackson Hole, Wyoming, for the annual economic policy symposium. Investors will be monitoring the event for clues about the future path of rates. Fed funds futures are pricing in a nearly 85% likelihood that the central bank cuts rates at its next policy meeting in September, according to CME’s FedWatch tool. Beyond economic policy, traders will be monitoring earnings reports due over the course of the week as the season winds down. Big-box retailers, including Home Depot, Lowe’s, Walmart and Target, are among the major companies slated to release results this week. Of the more than 92% of S&P 500 companies that have already reported this quarter, almost 82% have surpassed Wall Street’s expectations, according to FactSet. The three major averages are coming off of their second straight positive week, which also marked the fourth week of gains out of the last five for the S&P 500 and the Nasdaq. Small-cap stocks outperformed last week as investors bet on forthcoming rate cuts. Treasury yields dipped on Monday as traders gear up for the Federal Reserve’s annual symposium and the release of its July meeting minutes. The 2-year Treasury yield was 2 basis points lower at 3.74%. The benchmark 10-year note yield fell 3 basis points to 4.295%. Asia-Pacific markets mostly rose Monday as investors awaited talks between U.S. President Donald Trump and his Ukrainian counterpart, Volodymyr Zelenskyy. The U.S.-Russia summit on ending the conflict between Kyiv and Moscow concluded without a ceasefire deal on Friday. Japan’s Nikkei 225 benchmark climbed 0.77% to end the day at an all-time high of 43,714.31, with gains led by the consumer cyclicals, healthcare and industrials sectors. Meanwhile, Japan’s broader Topix index closed 0.43% higher at 3,120.96. In South Korea, the Kospi index reversed course from gains in the previous two sessions and ended the day 1.5% lower at 3,177.28, while the small-cap Kosdaq declined by 2.11% 798.05. Mainland China’s CSI 300 rose 0.88% to end the day at 4,239.41, its highest level since October 2024, while Hong Kong’s Hang Seng Index fell 0.37% to 25,176.85. Meanwhile, Taiwan’s Taiex index added 0.61% to end the day at 24,482.52, topping its previous record close in July 2024. Australia’s S&P/ASX 200 pared earlier gains to end the day 0.23% higher at 8,959.39, after briefly hitting an intra-day high. Oil prices rose on Monday after White House trade adviser Peter Navarro said India’s purchases of Russian crude were funding Moscow’s war in Ukraine and had to stop. Brent crude futures rose 0.46% or 30 cents to $66.15 a barrel by 1005 GMT, while U.S. West Texas Intermediate crude was up 38 cents, or 0.61%, to $63.18 a barrel. Gold prices edged up on Monday, helped by lower U.S. Treasury yields, while market players awaited U.S. President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy and European leaders later in the day. Spot gold gained 0.4% to $3,349.47 per ounce, as of 1014 GMT on Monday, after hitting its lowest level since August 1. U.S. gold futures for December delivery rose 0.4% to $3,395.10. “The firm tone to gold prices has returned today with the market nudging the $3,350 level (as) the combination of soft yields and a weaker dollar would for sure create a tailwind for gold,” said independent analyst Ross Norman.