Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTBy Wayne Cole and Harry RobertsonMon, July 6, 2026 at 10:31 AM GMT+2 3 min readBy Wayne Cole and Harry RobertsonSYDNEY/LONDON, July 6 (Reuters) - European stocks and U.S. futures ticked higher on Monday as the potential for increased energy supplies pulled down oil prices and promised relief from inflationary pressures, while investors awaited a crucial earnings season for the AI sector.While there were no new developments in the fractious U.S.-Iran peace talks, ships are passing through the Strait of Hormuz, with 160 vessels reported transiting from Monday to Saturday last week.OPEC+ also agreed to a further increase in output targets by 188,000 barrels per day from August. Brent crude fell 1.4% to near four-month lows at $71.10 a barrel.Europe's STOXX 600 rose 0.2% in early trading while futures for the S&P 500 climbed 0.5% after Friday's U.S. holiday break.The U.S. benchmark index rallied 1.8% last week, while Europe's STOXX climbed 2.7% as traders reduced their bets on rate hikes as energy prices cooled, although some pockets of the tech sector - particularly chipmakers - struggled."Lower oil prices should ... support the growth-sensitive sectors and countries which have underperformed during the last three months," said Mohit Kumar, chief European economist at Jefferies."While we remain long U.S. tech, we have added to Asia and growth sensitive sectors in recent weeks."Investors will be watching closely for how artificial intelligence-related companies are faring amid some fears about a bubble in the upcoming earnings season.Delta Air Lines and PepsiCo are the big U.S. names reporting this week, though Samsung Electronics is set to make a splash on Tuesday as analysts expect an 18-fold increase in profits.South Korea's hot market cooled a little last week but is still up 90% for the year so far as AI demand and tight supplies boost chip prices. The KOSPI index eased 0.5% on Monday, while Japan's Nikkei was flat.South Korean chipmaker SK Hynix will launch a U.S. listing on Monday to raise about $28 billion, according to regulatory filings, in a further test of the AI wave's strength.In currency markets, the dollar index ticked up 0.1% to 101.04 after dipping in the wake of Thursday's weaker-than-expected June U.S. payrolls report.The euro was down 0.1% at $1.142, just above the recent 13-month low of $1.133.The dollar firmed 0.5% to 162.23 yen, not far from 40-year peaks of 162.84 as speculators test Japanese authorities' resolve on intervention.U.S. President Donald Trump will attend a NATO meeting in Turkey this week, while the data calendar kicks off with the U.S. ISM Services survey later on Monday.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info