US futures are pointing to a lower open. European equity markets have opened flat, following mostly weaker Asian equities as investors reacted negatively to a modest LPR cut in China. US-China relations now on more stable footing after Blinken's visit to Beijing. His visit has also improved prospect of Biden meeting Xi later this year, spurring hopes of more regular dialogues at senior level. China has lowered 1Y and 5Y loan prime rates by 10bps.
Companies Mentioned: Adobe (NASDAQ:ADBE), Civitas Resources