US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened in the negative territory, following mixed Asian markets. Risk appetite turning softer as markets react to US employment data. Focus will shift to tomorrow's US CPI report for February, where a miss could go with the softer employment report. BOJ policymakers warming to idea of March rate hike.

Companies Mentioned: Harpoon Therapeutics, Merck, Alaska Air Group, Delta Air Lines, Boeing

US equity futures are indicating a slightly higher open as of 04:45 ET. This follows higher markets in Asia, while European equity markets have opened mixed. Mixed takeaways from Fed Chair Powell's Senate Banking Committee testimony on Thursday, in which he said the Fed is not far from achieving confidence on the inflation trajectory. This comes ahead of nonfarm payrolls data later today, which is forecast to show a step down in headline employment, no change to the jobless rate and moderation in hourly earnings growth.

Companies Mentioned: Apple, HelloFresh

US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened in the negative territory, following mixed Asian markets. Fed Chair Powell reiterated it will be appropriate to begin dialing back policy restraint at some point this year, though also said Fed still needs greater confidence inflation is moving sustainably towards 2%. ECB policy set to remain on hold. Tone likely to remain cautious. Majority of sell-side economists still see June move.

Companies Mentioned: Intel, Apple

US equity futures are indicating a higher open as of 04:45 ET. This follows mixed markets in Asia, while European equity markets are largely higher. Markets are somewhat in a holding pattern with the focus on Fed Chair Powell's semi-annual testimony later today. Powell is widely expected to reiterate the Fed needs to see more evidence inflation is returning to target and that it can be patient on rate cuts.

Companies Mentioned: Lucid Group, JM Financial

US equity futures are indicating a lower open as of 05:00 ET. This follows mostly lower markets in Asia, while European equity markets are softer. Markets are turning defensive, as investors await several key catalysts. China unveiled a 2024 growth target of around 5% and a deficit target of 3%, as expected. Today's economic calendar features ISM services PMI.

Companies Mentioned: Viavi Solutions, Spirent Communications, Advanced Micro Devices

US futures are indicating a lower open as of 04:05 ET. European equity markets have opened in the positive territory but are now narrowly mixed, following mostly higher Asian markets. Equity markets push higher despite tone-down in central bank rate cut expectations. Better market sentiment pinned on upbeat US macro data. ECB set to leave policy on hold. Earnings picture in Europe not as bad as feared, while forward-looking Eurozone data also supportive.

Companies Mentioned: Macy's, Terran Orbital, Lockheed Martin

US futures are pointing to a higher open as of 04:05 ET. European equity markets have opened in the positive territory, following a strong session in Asia. Equity market sentiment positive after yesterday's US PCE toned down fears of more hawkish Fed stance. Absence of upside surprise from the report viewed positive. Market-implied odds of June rate cut unchanged and futures still pricing in 75 bps of easing in 2024, in line with Fed.

Companies Mentioned: Fortune Brands Innovations, Clarus, Wincanton, GXO Logistics

US equity futures are indicating a lower open as of 04:45 ET. This follows mixed trading in Asia, whilst European equity markets are higher. No change in the broader market sentiment. The hawkish repricing of Fed pivot expectations and stretched positioning among the higher-profile overhangs. The market awaits impetus from macro data, with attention on the US PCE inflation data later today and Eurozone CPI on Friday.

Companies Mentioned: Alibaba, OpenAI

US equity futures are indicating a lower open as of 04:45 ET. This follows lower markets in Asia, whilst European equity markets are mixed. The market is consolidating recent gains ahead of key macro updates later this week, which include the US PCE inflation data on Thursday and Eurozone CPI on Friday. More talk of stretched positioning as a near-term overhang, along with focus on narrow leadership.

Companies Mentioned: Apple, Mitsubishi, Yum Brands

US equity futures are indicating a slightly higher open as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are mixed. Equity markets are consolidating after the recent move to fresh highs. The paring back in Fed rate cut expectations has had limited impact on equity markets, although there is more focus on narrow leadership. French President Macron has refused to rule out putting troops on the ground in Ukraine.

Companies Mentioned: Broadcom, Shein