Global markets were mixed while oil prices climbed following a report that the U.S. was ⁠considering fresh ​military action against Iran.

Wall Street futures were muted as ​investors weighed strong tech earnings against renewed inflation worries.

Futures of the resource-heavy TSX pointed higher.

In Canada, investors are getting results from Air Canada, Bombardier Inc., Agnico Eagle Mines Ltd., Eldorado Gold Corp., Eldorado Gold Corp., AltaGas Ltd. and Spin Master Corp.

On Wall Street, markets are watching earnings from Apple Inc., Eli Lilly and Co., Mastercard Inc., Caterpillar Inc., Merck & Co. Inc., Amgen Inc., Bristol-Myers Squibb Co. and ConocoPhillips

Overseas, the pan-European STOXX 600 was up 0.29 per cent in morning trading. Britain’s FTSE 100 advanced 1.05 per cent, Germany’s DAX climbed 0.22 per cent and France’s CAC 40 fell 0.62 per cent.

In Asia, Japan’s Nikkei closed 1.06 per cent lower, while Hong Kong’s Hang Seng fell 1.28 per cent.

Brent crude prices jumped to a fresh four-year high on concerns that the ​U.S.-Iran war could worsen and lead to a protracted Middle ‌East oil supply disruption that could hurt global economic growth.

The market moved higher after Axios reported that U.S. President Donald Trump is slated to receive a briefing on plans for a series of military strikes on Iran in hopes it will ⁠return to negotiations ​on its nuclear program.

Brent crude futures rose 3.2 per cent to US$121.76 a barrel after touching an intraday high of US$126.41, the loftiest since March 9, 2022. West Texas Intermediate (WTI) futures were up 1.4 per cent to $108.37 a barrel.

Brent has more than doubled year to date and WTI was up about 90 per cent.

“Prospects for any near-term resolution to the Iran conflict or a reopening of the Strait of Hormuz remain dim,” IG market analyst Tony Sycamore said in a note.

In other commodities, spot gold was up 1 per cent to US$4,588.09 an ⁠ounce after falling to its lowest point since March 31 in the previous session. U.S. gold futures for June ​delivery rose 0.4 per cent to US$4,578.10.

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

The day range on the loonie was 73.02 US cents to 73.20 US cents in early trading. The Canadian dollar was up about 1.9 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, declined 0.27 per cent to 98.69. The U.S. dollar traded at $1.3665.

The euro climbed 0.17 per cent to US$1.1697. The British pound advanced 0.19 per cent to US$1.3503.

In bonds, the yield on the U.S. 10-year note was last down at 4.413 per cent.

China’s PMI

Japan’s retail sales and industrial production

Euro zone’s GDP and CPI

Germany’s GDP and unemployment

ECB’s monetary policy meeting and Bank of England rate decision

8:30 a.m. ET: Canada’s monthly real GDP for February. Consensus is a rise of 0.2 per cent from January.

8:30 a.m. ET: Canada’s payroll survey for February.

8:30 a.m. ET: U.S. GDP and GDP price index for Q1. The consensus projections are annualized rate increases of 2.1 per cent and 4.0 per cent, respectively.

8:30 a.m. ET: U.S. personal spending and income for March. The Street expects month-over-month rises of 0.9 per cent and 0.3 per cent, respectively.

8:30 a.m. ET: U.S. core PCE price index for March. Consensus is a gain of 0.3 per cent from February and up 3.2 per cent year-over-year.

8:30 a.m. ET: U.S. employment cost index for Q1. Consensus is a rise of 0.8 per cent from Q4 and up 3.3 per cent year-over-year.

8:30 a.m. ET: U.S. initial jobless claims for week of April 25. Estimate is 212,000, down 2,000 from the previous week.

9:45 a.m. ET: U.S. Chicago PMI for April.

10 a.m. ET: U.S. leading indicator for February.