US futures are pointing to a lower open as of 04:05 ET. European equity markets have opened mostly lower, following lower levels in Asian markets. Risk appetite remains soft following Friday's rebound in EU’s December inflation as well as a solid US payrolls report. US ISM report supported soft-landing and rate-cut narratives given cooling labor market and price trends. Fed fund futures still pricing in 64% probability of rate cuts from March.

Companies Mentioned: Harpoon Therapeutics, Merck, BlackRock