(Bloomberg) — European and U.S. equity futures slipped Monday and Asian stocks were steady as investors mulled the outlook for Federal Reserve stimulus support and OPEC+ tension over oil.

Shares dipped in Japan and Hong Kong and fluctuated in China, where cybersecurity probes into ride-hailing giant Didi Global Inc. as well as some other online platforms highlighted Beijing’s push to curb the influence of the nation’s internet companies. Chinese technology firms fell in Hong Kong.

The S&P 500 reached a record for a seventh day Friday after a U.S. jobs report signaled the economy is gaining steam but not at a pace that would prompt the central bank to taper stimulus quickly. U.S. and European equity contracts edged down. U.S. stock and bond markets are closed for the July 4 Independence Day holiday.

Oil was around $75 a barrel amid an OPEC+ dispute. The standoff between Saudi Arabia and the United Arab Emirates leaves the global economy guessing how much oil it will get next month.

While the U.S. jobs report eased concerns about the Fed’s hawkish pivot last month, central banks around the world are beginning to pull back from from the emergency stimulus they deployed to fight the pandemic-driven global recession. For instance, the Reserve Bank of Australia is expected to pare back some stimulus at its Tuesday meeting despite ongoing curbs against a recent Covid-19 flareup.

“Markets are priced for the continuation of a scenario that could not be better constructed,” Chris Iggo, chief investment officer for core investments at AXA Investment Managers, wrote in a note. “Investors are living with risks that are seen to be manageable while growth and the technical set-up of our financial system is rewarding capital allocated to risk.”

Treasuries gained and the dollar dipped Friday after the jobs report was seen as supporting the Fed’s accommodative stance. The greenback clawed back some of the losses Monday. Investors are awaiting the Federal Open Market Committee minutes later this week for clues on the policy outlook.

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Meanwhile, a gauge of China’s services industry slowed sharply in June following virus outbreaks in some parts of the country and weaker new orders. The survey shows a deeper downturn in services than the official non-manufacturing gauge released last week.

Here are some events to watch this week:

Reserve Bank of Australia policy decision TuesdayFOMC minutes WednesdayThe Group of 20 finance ministers and central bankers meet in Venice on FridayChina PPI and CPI data released on Friday

These are some of the main moves in markets:

Stocks

S&P 500 futures dipped 0.2% as of 7:27 a.m. in London. The S&P 500 rose 0.8% FridayNasdaq 100 futures fell 0.1%. The Nasdaq 100 rose 1.2%Japan’s Topix index fell 0.4%Australia’s S&P/ASX 200 Index added 0.1%South Korea’s Kospi index rose 0.4%Hong Kong’s Hang Seng Index shed 0.5%China’s Shanghai Composite Index rose 0.2%Euro Stoxx 50 futures fell less than 0.1%

Currencies

The Japanese yen was at 111.10 per dollarThe offshore yuan was at 6.4654 per dollar, up 0.1%The Bloomberg Dollar Spot Index increased 0.1%The euro traded at $1.1855

Bonds

The yield on 10-year Treasuries declined three basis points to 1.42% Friday; futures were futures little changedAustralia’s 10-year bond yield dipped about four basis points to 1.43%

Commodities

West Texas Intermediate crude was at $75.21 a barrelGold was at $1,786.30 an ounce

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