Market Reacts to High-Stakes US-Russia Summit

As the world turns its eyes to Alaska, where US President Donald Trump and Russian counterpart Vladimir Putin are set to discuss the ongoing war in Ukraine, the Dow Jones Industrial Average opened sharply higher, jumping 250 points or 0.58%. The meeting has sparked a mix of hope and uncertainty among investors eager for signs of progress in the conflict.

Economic Indicators Show Mixed Signals

Meanwhile, the latest economic data revealed a 0.5% increase in US retail sales for July, offering a glimmer of consumer resilience. However, industrial production dipped slightly by 0.1%, underscoring the uneven recovery across sectors.

Sector Performances Highlight Market Divergence

UnitedHealth led the charge with a staggering 10% surge following news of a Berkshire investment, while Applied Materials faced an 11.83% drop, contributing to the Nasdaq 100's 0.18% decline at the opening bell. The S&P 500 remained flat, reflecting the market's cautious stance.

In currency markets, the euro gained 0.37% against the dollar, trading at 1.16912, as investors weighed the geopolitical and economic developments.