Stocks Eye Record Highs as Oil Prices Surge Amid Inflation Print

European stocks held steady near record highs as energy producers surged on crude's price increase to July 31 highs, but capital-goods, media, and tech sectors lagged due to volatile earnings and Middle East tensions.

The Stoxx Europe 600 was flat, with oil prices climbing 2.4% to $89.80/bbl for Brent and 2.7% to $84.31/bbl for WTI after both benchmarks jumped over 5% on Monday.

Crypto markets also moved in response to the inflation print: Bitcoin (BTC) fell 1.2% to $64,372.3 as fading hopes for a US-Iran deal weighed on risk appetite and Strategy, the world's largest Bitcoin holder, sold more of its holdings.