Wall Street closed lower, Boeing fell 4.2%, and Lowe's lowered full-year sales forecasts amid weak spending.

Wall Street closed lower, ending a multi-session winning streak, as the Dow Jones Industrial Average dropped 0.2%, the S&P 500 rose 0.2%, and the Nasdaq Composite increased 0.3%. Boeing fell 4.2% after discovering defects on a 777X test plane. Eli Lilly's weight loss drug, tirzepatide, reduced Type 2 diabetes risk by 94% in preliminary findings. Lowe's lowered full-year sales and earnings forecasts due to weak home improvement spending. Chinese-linked fast-fashion retailer Shein sued rival Temu for alleged design theft, counterfeiting, and fraud. The EU reduced tariffs on Tesla vehicles imported from China, while Morgan Stanley advised caution on hedge fund-favored stocks. Fed Chair Jerome Powell's speech may influence markets as investors await rate cuts.