Global stock markets hovered near record highs on Thursday as investors awaited the highly anticipated meeting between former U.S. President Donald Trump and Russian President Vladimir Putin in Alaska. The summit, which is expected to cover a range of geopolitical and economic topics, has stirred both optimism and caution among traders worldwide.

In Europe, major indices opened slightly higher, with the Stoxx 600 edging up 0.2%, supported by gains in banking and energy stocks. In Asia, the Nikkei 225 in Japan closed at a fresh multi-decade high, while China’s CSI 300 remained flat amid continued concerns over its sluggish property sector and tepid consumer demand.

On Wall Street, U.S. stock futures indicated a mixed open. The S&P 500 and Dow Jones Industrial Average futures held steady, while Nasdaq 100 futures dipped slightly, weighed down by a pullback in tech shares after several days of strong gains. The rally in equities this week has been fueled by easing inflation pressures, resilient corporate earnings, and hopes for improved U.S.-Russia relations that could bolster global trade stability.

Meanwhile, the U.S. dollar was little changed, and oil prices inched higher as energy traders speculated that any thaw in U.S.-Russia relations might impact global supply dynamics. Brent crude traded just above $84 per barrel, while gold prices remained flat as investors weighed geopolitical risks.

Market analysts warn that while the Trump-Putin summit could result in positive headlines, any unexpected tension or lack of concrete agreements may trigger short-term volatility. For now, global markets are holding their breath, with traders ready to react as soon as the meeting outcomes become clear.