Despite Increase in Oil, Dip Buyers Boost US Stocks – Europe Market Wrap

Global stocks began the week on a stronger footing as investors bought the dip following last week's selloff, while attention turned to a busy week of central bank speakers and key economic data.

S&P 500 futures climbed 0.8%, with the Nasdaq 100 outperforming, up 1.2%, as investors rotated back into growth stocks after the benchmark posted its second-worst week of the quarter.

Space-related companies and AI infrastructure names led premarket gains, while Comcast surged after announcing plans to split its businesses.

European equities were little changed, with the Stoxx 600 trading flat.

Asian markets edged higher, led by gains in Chinese stocks after the PBoC surprised markets by setting the rate on an overnight liquidity facility lower than expected, reinforcing expectations of further policy support.

Brent crude rose 0.6% to around $72.40 a barrel after renewed tensions between the US and Iran over the weekend disrupted shipping near the Strait of Hormuz.

Although both sides have since agreed to halt further attacks, tanker traffic through the waterway remains slower than normal as shipowners continue to assess security risks.

Treasury yields were little changed, with the 10-year yield holding around 4.37%, while the Dollar traded broadly flat.

Markets continue to price in the possibility of a Fed rate hike as early as September, with Barkin reiterating over the weekend that inflation remains too high, reinforcing the central bank's cautious stance toward easing policy.