U.S. stock futures were higher in early European morning trading, though global trade is muted as investors await Federal Reserve meeting minutes and preliminary results from Samsung Electronics.

Changes in the dollar and U.S. Treasurys are limited as both continue to trade on last week's jobs data. U.S. stocks look set to catch up on gains missed Friday as investors return following the Independence Day holiday, though artificial intelligence hardware stocks weakened in Asia and Europe.

Oil prices fell on OPEC+'s decision to hike production and the continued recovery in shipping through the Strait of Hormuz.

For the week ahead, meeting minutes from the Fed's most recent rate-setting meeting will be released Wednesday. Korean memory chip maker Samsung Electronics will report preliminary second-quarter earnings Tuesday, providing further insight on demand for artificial intelligence. World leaders meet Tuesday and Wednesday for a North Atlantic Treaty Organization summit.

--In early European trading, Brent crude was down 0.4% to $71.84 a barrel, while WTI futures edged 0.3% lower to $68.48 a barrel. "Brent and Dubai crude time spreads remained in contango, reflecting ample near-term supply, and Gulf producers are expected to lower official selling prices further to maintain competitiveness," said Soojin Kim from MUFG. Contango occurs when near-term futures prices are lower than longer-dated contract prices. Saudi Arabia's exports have surged close to prewar levels, while the United Arab Emirates is also restoring flows at a rapid pace, contributing to a looser physical market, according to analysts.

--U.S. futures were all in the green. Futures for the S&P 500 were up 0.4%, while the Dow Jones Industrial Average rose 0.1%. Nasdaq futures jumped 1%.

--Asian equities were mixed. South Korea's Kospi gave up earlier gains to end 0.5% lower. Other major AI beneficiaries Japan and Taiwan ended flat and 0.5% lower, respectively. Hong Kong's Hang Seng Index rose 0.75%.

--European indexes were mostly higher in early trading, as semiconductor stocks lost momentum but other sectors rallied. The Europe-wide Stoxx 600 was mixed. London's FTSE 100 added 0.1% as software and defense stocks gained--Relx rose 1.9%--though metals miners edged lower. In Paris, the CAC 40 was 0.2% higher as luxuries strengthened, with bellwether LVMH up 1%. Thales dropped 1.5% after agreeing to buy a stake in Exail Technologies. Germany's DAX was flat as technology companies diverged. Software giant SAP rose 2%, while chip maker Infineon fell 3.2%. The Italian FTSE MIB gained 0.4%, helped by a 4% increase for Leonardo. Spain's IBEX 35 was 0.3% lower. The semiconductor-heavy AEX index was flat in Amsterdam, even as ASML fell 1.6% and BE Semiconductor tumbled 6.4%. Prosus was up 3.4%.

--The dollar edged higher as it recovers from recent falls driven by a trimming of U.S. interest rate rise expectations. The reassessment of rate expectations followed last Thursday's weaker-than-expected nonfarm payrolls along with comments from Federal Reserve Chair Kevin Warsh last Wednesday that inflationary risks had eased. However, LSEG data show the market is still expecting the Fed to raise rates by year-end. The attention now turns to the Fed's meeting minutes on Wednesday for further clues on the policy path. The DXY dollar index rose 0.2% to 101.035.

--U.S. Treasury yields fell in Asian trade following last Thursday's weaker-than-expected employment data that led the markets to scale back their expectations of Federal Reserve rate hikes. The two-year U.S. Treasury yield declined 0.4 basis points to 4.126%, while the 10-year yield fell 0.6 basis points to 4.472%, according to Tradeweb.

--Eurozone government bond yields edged lower, tracking their U.S. Treasury peers. "There is relatively little in the way of new impulses for the eurozone this week," Metzler analysts said in a note. German factory orders this morning, industrial production on Tuesday and foreign trade data Thursday, as well as eurozone producer prices and retail sales "should provide valuable insight regarding expected GDP growth for the second quarter," they said. The 10-year German Bund yield fell 0.8 basis points to 2.923%, according to Tradeweb

--Bitcoin remained strong after reaching a two-week high overnight. Last week's weaker-than-expected U.S. nonfarm payrolls report prompted markets to scale back expectations for interest rate rises by the Federal Reserve, providing some relief to liquidity-related assets including cryptocurrencies, Capital.com's Monte Safieddine says in a note. Bitcoin rose 0.5% to $63,026, having reached a high of $63,926 overnight, LSEG data show.

--Gold futures rose after posting their first weekly gain since May, as weaker U.S. jobs data and lower oil prices reduced expectations of interest-rate hikes by the Federal Reserve. Despite easing concerns around inflationary pressures on the U.S. economy, "short-dated U.S. bond yields still signal the risk of a rate hike later this year," analysts at Saxo Bank said. "A further easing in those expectations is needed to support bullion, which for now continues to consolidate." In early trading, New York gold futures rose 1% to $4,166 a troy ounce.

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

July 06, 2026 04:15 ET (08:15 GMT)

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