Asian share markets were mostly firmer on Monday, as Wall Street futures started the week with gains on hopes for an upbeat earnings season, while easing oil prices promised relief from inflationary pressures.

Oil Prices Dip

OPEC+ agreed a further increase in output targets by 188,000 barrels per day from August, on top of similar increases for June and July. As a result, Brent slipped 0.6% to near four-month lows at $71.70 a barrel and U.S. crude lost 0.5% to $68.38.

The cooling in energy costs combined with a softer U.S. payrolls report, led markets to scale back the risk of a Federal Reserve rate hike in the near term, with futures implying a 78% chance of a steady outcome at the July 29 meeting.

Earnings Season Looms

The diminished risk of a hike this month should allow investors to focus on the looming earnings season, where the AI boom is set to deliver bumper tech profits. This week has just Delta Air Lines and PepsiCo as tasters, though Samsung Electronics is set to make a splash on Tuesday as analysts expect an 18-fold increase in profits.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.