Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a clear path forward to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies.

Negotiations between the U.S. and China on a possible trade deal in Sweden this week were “very constructive,” Treasury Secretary Scott Bessent told reporters on Tuesday.

The Federal Reserve is slated to announce its latest interest-rate decision, and investors will scour the July jobs report. Earnings season marches on, with four of the “Magnificent Seven” names headlining a packed schedule.