Precise Investors Editorial Team
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.7%
Asian share markets rose on Monday, though a lack of progress in Gulf peace talks saw oil prices creep higher.
Iran said on Sunday that a deal with Oman defining new shipping lanes in the Strait of Hormuz was in its final stages but reiterated that the waterway would only reopen once the U.S. met other conditions.
Brent crude rose 0.6% to $84.04 a barrel as shipping through the vital waterway remained at a trickle.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.7%.
Chinese blue chips eased 0.7% after data showed consumer and producer price inflation came in under forecasts in July, underlining the softness of domestic demand.
For Europe, EUROSTOXX 50 futures and DAX futures were both flat, while FTSE futures dropped 0.4%.
S&P 500 futures added 0.1%, while Nasdaq futures firmed 0.3%, having jumped 5% last week amid a slew of upbeat earnings reports.
Analysts at BofA noted that with nearly 90% of S&P 500 results in, earnings per share were up 30% on the year after excluding investment gains at Alphabet and Amazon. A 76% EPS beat rate matched the strongest level since 2021.
AI remains the stand out, with median EPS growth of 28% versus 12% for non-AI-related stocks, though consensus expects AI to slow to 16% next quarter, they said in a note.
Analysts at JPMorgan revised up their 2026 EPS estimate to $365, marking annual growth of 35%, and lifted their S&P 500 price target to 8,000 from 7,800.
Earnings are lighter this week but include semiconductor company Applied Materials, networking equipment maker Cisco and cloud infrastructure technology company CoreWeave.
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