US futures are indicating a very slightly higher open as of 04:05 ET. European equity markets have opened mixed, following broadly higher levels in Asian markets. Recent strength in equity markets pinned on stabilization of Fed pivot re-pricing ahead of January FOMC meeting, with ~140 bps of rate cuts priced in for 2024. More traction behind disinflation narrative after US core PCE inflation fell to lowest since March 2021 on annualized basis. Divisions between hawks and doves within ECB's Governing Council becoming more evident. BoE set to leave policy on hold this week.

Companies Mentioned: Western Digital, SK Hynix, HollySys

US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened mostly higher, following largely weaker levels in Asian markets. Sentiment weakened after mixed earnings takeaways afterhours. Not much out of ECB policy statement on Thursday, but Lagarde's comments leaned more dovish on labor market. Market pricing for April rate cut now up to 90% with 50bps worth of easing expected by June. ECB survey of forecasters showed downward revision in inflation outlook and cut in growth projections.

Companies Mentioned: Tellurian, Disney

US equity futures are indicating a largely flat open as of 04:45 ET. This follows slightly higher trading in Asian markets, whilst European equity markets are mixed to lower. Latest earnings takeaways leaned positive, with gains in most of the Magnificent Seven names a highlight. Some signs of stabilization in the repricing of Fed pivot expectations, which has been the big overhang in early 2024 trading. Central bank decisions from Norges Bank and ECB today.

Companies Mentioned: Paramount Global, Nokia

US equity futures are indicating a higher open as of 04:45 ET. This follows mixed trading in Asian markets, whilst European equity markets are higher. The market focus is on earnings and China policy support headlines. PBoC announced a cut in bank RRR by 50 bps effective from early February. Markets bracing for upcoming reports from the Magnificent Seven. Aggregate beat rates off to a soft start, broadly in line with subdued expectations.

Companies Mentioned: Walgreens Boots Alliance, Tesla

US equity futures are indicating a broadly unchanged open as of 05:00 ET. This follows mostly higher markets in Asia, while European equity markets are softer. There was a big turnaround in China markets amid a Bloomberg report that officials are weighing a $278B market rescue package. The US and UK have launched new joint airstrikes on Houthi targets in Yemen.

Companies Mentioned: Sanofi, Inhibrx, Intuit

US futures are pointing to a higher open as of 04:05 ET. European equity markets have opened in the positive territory, following mixed levels in Asian markets. Markets have dialed back Fed rate cut expectations in face of stronger economic data and pushback by Fed policymakers, pricing in less than 50:50 chance of March cut (vs peak of around 80%). ECB meeting expected to be uneventful. BoE rate cut pricing also has dipped with firmer-than-expected UK inflation data.

Companies Mentioned: Macy's, Walmart, Citigroup

US equity futures are indicating a higher open as of 05:00 ET. This follows mixed markets in Asia, while European equity markets are firmer. Rate-cut repricing is still the big area of focus. Geopolitical tensions are still a background feature despite limited market impact. US existing home sales and Michigan Sentiment are due today.

Companies Mentioned: Amazon, iRobot

US futures are indicating a mostly flat open as of 04:45 ET. European equity markets have opened mixed, following mixed trading in Asian markets. No change in the broader market sentiment, with the dialing back in market rate expectations and backup in yields continuing to influence. While data prompted more calls for stimulus, China's Premier Li downplayed the prospect of large-scale easing in his remarks at Davos overnight.

Companies Mentioned: Google, Apple, Epic Games, Spotify

US futures are indicating a lower open as of 04:45 ET. European equity markets have opened in negative territory, following weaker levels in Asian markets. Equity markets remain sensitive to central bank developments. Latest bond yield backup put down to concerns markets have become too aggressive on extent of rate cuts being priced. ECB's Lagarde said it was likely to cut rates in the summer, but will remain data dependent.

Companies Mentioned: Shein

US futures are indicating a lower open as of 04:05 ET. European equity markets have opened in the negative territory, following weaker levels in Asian markets. Markets remain sensitive to global central banks' policy outlook. While central bank officials continue to push back on rate-cut pricing, market is still pricing in at least 125bps worth of easing. No change in Fed rate-cut pricing with at least six rate moves expected this year.

Companies Mentioned: Apple, Uber Technologies