finance
Oil Prices Edge Lower After OPEC+ Modest August Output Increase
Oil prices declined after OPEC+ approved a further modest production rise for August. S&P 500 futures held prior gains while traders lowered near-term Fed rate hike odds. South Korea began 24-hour won trading to draw foreign investors ahead of SK Hynix's U.S. listing.
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Oil prices edged lower after OPEC+ agreed to another modest output increase for August, @FirstSquawk reported. Hormuz energy flows remained stable during the period. S&P 500 futures held last week's gains as investors shifted focus to Q2 earnings and the sustainability of the AI rally.
Markets entered the second half of the year cautiously while assessing the aftermath of the Iran conflict. Traders reduced expectations of a near-term Fed rate hike after softer U.S. jobs data and Kevin Warsh's comments on easing inflation.
U.S. Treasury auctions and the Fed's June meeting minutes stand as key market events this week. South Korea launched 24-hour won trading as part of its push to attract more foreign investors ahead of SK Hynix's U.S.
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