European Stocks Edge Higher as Oil Slump and Nvidia Earnings Shape Markets

TLDR

• European stocks pushed modestly higher Wednesday, with the Stoxx Europe 600 up 0.11%
• Brent crude fell 2.6% to $86.32, extending a 5% drop from the prior session on hopes of a US-Iran ceasefire
• ECB’s Isabel Schnabel warned further rate hikes are needed to bring inflation back to target
• Markets held a cautious tone ahead of Nvidia’s second-quarter earnings after the US close
• European tech suppliers like ASML, STMicroelectronics, and Infineon watched closely for AI demand signals

European equity markets edged up on Wednesday, staying near one-week highs. A sharp drop in oil prices gave traders some relief, but caution dominated as investors waited on two big events: an ECB rate warning and Nvidia’s earnings.

Oil Drop Lifts Mood as Iran Talks Progress

Brent crude fell 2.6% to $86.32 a barrel, building on a 5% drop from the day before. The slide came after reports suggested the US and Iran were close to an interim ceasefire deal. The agreement would include guarantees for open commercial shipping through the Strait of Hormuz.

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