Global markets were mixed in unsteady trading as investors shrugged off doubts about the durability of a Middle East ceasefire to return to favoured AI plays.

Wall Street futures were in the red after tech gains pushed major U.S. indexes higher yesterday.

TSX futures were in positive territory.

On Wall Street, markets are watching earnings from Palo Alto Networks Inc. and Dollar General Corp.

“Ceasefire negotiations between the U.S. and Iran have seen repeated false starts since April, and today’s lack of progress is no exception,” said Fabien Yip, a market analyst at IG in Sydney. “The market has grown accustomed to the back-and-forth.”

Overseas, the pan-European STOXX 600 was up 0.62 per cent in morning trading. Britain’s FTSE 100 gained 0.4 per cent, Germany’s DAX climbed 0.96 per cent and France’s CAC 40 advanced 0.65 per cent.

In Asia, Japan’s Nikkei closed 0.3 per cent lower, while Hong Kong’s Hang Seng rose 2.52 per cent.

Oil prices eased after U.S. President Donald Trump said talks with Iran were continuing, despite a report that Tehran had suspended indirect negotiations with Washington to end hostilities.

Brent crude futures were down 1.23 per cent to US$93.81 a barrel, while West Texas Intermediate (WTI) fell 1.27 per cent to $90.99 a barrel.

“The social media posts from U.S. President Trump indicating a de-escalation of tensions are weighing on crude prices today,” said UBS analyst Giovanni Staunovo. “That said, oil flows through the Strait [of Hormuz] remain restricted.”

In other commodities, spot gold rose 1 per cent to US$4,525.72 an ounce. U.S. gold futures for August delivery gained 1.1 per cent to US$4,556.

The Canadian dollar weakened against its U.S. counterpart.

The day range on the loonie was 72.17 US cents to 72.32 US cents in early trading. The Canadian dollar was down about 1.66 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, slipped 0.09 per cent to 99.12. The dollar was pegged at $1.3855.

The euro climbed 0.07 per cent to US$1.1640. The British pound advanced 0.1 per cent to US$1.3467.

In bonds, the yield on the U.S. 10-year note was last down at 4.438 per cent.

Euro zone’s CPI: Euro zone inflation accelerated further last month – to 3.2 per cent from 3 per cent a month earlier – on higher energy and services costs, bolstering the already strong case for a small European Central Bank interest rate hike later this month, data showed.

10 a.m. ET: U.S. Job Openings & Labor Turnover Survey for April.

With Reuters and The Canadian Press