Major global indices traded in a narrow range after energy benchmarks declined for the third consecutive session, reducing cost pressures on manufacturing-heavy economies. Asian markets recorded modest gains, while European indices remained stable ahead of key inflation prints. Institutional flows favored defensive sectors and high-cash-generation companies, signaling cautious risk positioning. 

Market strategists suggested that lower commodity volatility may support improved quarterly earnings guidance, although traders remain attentive to upcoming central bank comments expected to shape near-term sentiment.