Oil Price Boosted as Wall Street Cautious Ahead of Trump-Xi Summit

Wall Street's main stock indexes opened lower on Thursday due to simmering Middle East tensions. The uncertainty surrounding global events lifted oil prices and Treasury yields, causing investors to exercise caution.

The Dow Jones Industrial Average dropped 95.8 points, or 0.19%, at the open to 51,415.75. Similarly, the S&P 500 fell 39.0 points, or 0.51%, at the opening bell to 7,666.99.

The Nasdaq Composite also declined, dropping 201.5 points, or 0.75%, to 26,734.508 at the start of trading. The market's cautious tone was largely driven by anticipation of a high-stakes summit between Presidents Donald Trump and Xi Jinping.