Global stocks edge higher as investors eye U.S. inflation data

Global stock markets edged higher on Monday, August 10, as investors focused on upcoming U.S. inflation data while navigating mixed signals from the Middle East. The cautious optimism followed a record close on Wall Street last Friday, driven by a weaker-than-expected U.S. jobs report that reduced expectations for near-term Federal Reserve interest rate hikes.

In Asia, Japan's Nikkei rose 0.6%, South Korea's KOSPI added 0.5%, and MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3%. European futures pointed to a slightly softer open, with EUROSTOXX 50 and DAX futures both down 0.1%. U.S. S&P 500 futures dipped 0.1%, while Nasdaq futures were little changed after a 5% surge last week.

The market backdrop was complicated by developments in the Persian Gulf. Iran stated on Sunday that a deal with Oman to define new shipping lanes in the Strait of Hormuz was in its final stages. However, Tehran reiterated that the waterway would only fully reopen once the United States met other conditions, which analysts said seemed unlikely. Shipping through the strait remained at a trickle, with only two tankers reported on Friday. This uncertainty pushed oil prices slightly...