US futures are pointing to a lower open, while European equity markets are mixed. Asian equities also closed with varied results today. In focus today are developments from China, where the People's Bank of China cut the 1-year and 5-year loan prime rates by 25 basis points—slightly more than consensus expectations. PBOC Governor Pan indicated the possibility of reducing the reserve requirement ratio by 25 to 50 basis points by year-end. This comes amid mixed reactions to recent Chinese stimulus efforts, but hopes for more fiscal support remain strong as President Xi pushes for achieving 2024 economic goals.

Companies Mentioned: Boeing, Thales, MetLife, Kenvue