CNBC Daily Open: Stocks are entering the hottest period of the year

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Oil slump boosts markets
All major U.S. indexes rose Monday on soft oil prices while investors awaited Big Tech earnings. The pan-European Stoxx 600 index climbed 0.41% after a choppy day of trading. Shares of Dutch health product giant Philips slumped 16.9% after the company cut its full-year forecast on weak demand from China.

Volkswagen puts the brakes on expenses
Volkswagen is considering pay cuts, layoffs and plant closures in Germany, as part of plans to overhaul its business, the company's works council said on Monday. Volkswagen isn't earning enough revenue from its car sales, said Thomas Schäfer, chief executive of Volkswagen Passenger Cars, while it's facing increased competition from Chinese EVs.

Trump accuses Taiwan of stealing business
Former U.S. President Donald Trump accused Taiwan of stealing the country's chip business, he said on "The Joe Rogan Experience" podcast. Trump also said he would implement tariffs on Taiwan if he were elected president. Bernstein analyst Stacy Rasgon told CNBC the idea of Taiwan stealing the U.S.'s chip industry is "ridiculous."

Trading 22 hours a day?
The New York Stock Exchange currently allows electronic trading for 16 hours a day. The bourse, owned by Intercontinental Exchange, wants to expand that to 22 hours a day. Market participants are divided over whether the move is necessary or even wise. In any case, the proposal might not go forward — it has yet to receive regulatory approval.

[PRO] Tech might be in trouble, chart shows
The bursting of the