European stocks head for lower open as investors focus on oil market moves

CNBC Pro: Here are the most overbought and oversold major global stocks, including tech and bank names

The relative strength index , which measures the magnitude and speed of price moves, can be used by investors to determine if shares are overbought or oversold.Arm sets U.S. IPO between $47 and $51 per share . SoftBank, which owns Arm, plans to sell 95.5 million shares. This all implies a valuation of up to $54.5 billion.CNBC Pro: RBC just raised its bet on this 'recession resistant' Canadian stock, giving it 20% upside

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Saudi Arabia, Russia extend oil cuts through 2023, boosting market pricesSaudi Arabia and Russia on Tuesday prolonged oil production cuts through the end of this year in a bid to drive market prices higher after remaining far below 2022 record levels.
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Energy stocks lead S&P 500 again, as Saudi Arabia, Russia extend crude-supply cutsEnergy stocks are leading the S&P 500 index on Tuesday, while most other sectors are in red, as Saudi Arabia and Russia extend oil supply cuts.
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