Market Reacts to Upcoming Alaska Summit

Wall Street opened lower on Thursday, with investors closely monitoring the upcoming Alaska summit between U.S. President Donald Trump and Russian leader Vladimir Putin. The anticipation of this high-profile meeting has added a layer of uncertainty to the markets.

Economic Indicators and Treasury Yields

Recent data on jobs and producer prices have kept traders busy, while the U.S. Treasury Secretary's proposal for a 25 basis point interest rate cut in September has sparked discussions. Federal Reserve officials have hinted at a potential relaxation of monetary policy, contributing to the lowest yields on two-year and five-year U.S. Treasury bonds since May.

Stock Performance Highlights

The Dow Jones fell by 0.41%, impacted by a 1.44% drop in Home Depot shares. The Nasdaq 100 decreased by 0.32%, with NXP Semiconductors down by 2.41%. The S&P 500 also saw a decline of 0.20%, as Tapestry Inc. shares plummeted by 15.53%.

At 9:29 am ET, the euro weakened by 0.43% against the dollar, trading at $1.16544.