U.S. stock futures edged higher in early European trade as a global AI‑driven selloff lost momentum, amid heightened scrutiny of AI valuations. After a sharp decline in AI‑heavy equities, the Nasdaq futures steadied while semiconductor shares posted modest gains in Asia. Investors now brace for Micron Technology’s earnings after the market close, a report many view as a litmus test for the sector.

Oil prices slipped further, with Brent down 1.1% to $75.93 a barrel and WTI easing 1.3% to $72.31, reflecting expectations that shipping through the Strait of Hormuz is normalising. MUFG analysts linked the move to a U.S. sanction waiver on Iranian oil, which they say could boost regional supply and ease geopolitical pressure on energy markets. The market also noted softer demand in Europe.

The dollar hovered near a 13-month high, keeping the Fed’s recent hawkish shift in focus as investors price in additional rate hikes later this year. Gold slipped below $4,100 an ounce, underscoring the tightening bias. With the Fed’s stress test results due soon, market participants will gauge whether monetary policy will stay restrictive amid lingering tech volatility. Analysts will watch credit spreads for further clues.