US futures are pointing to a higher open as of 04:45 ET. European equity markets have opened with gains, following mixed Asian markets. Strong US macro data and surging oil prices are driving the "good news is bad news" narrative and spurring more talk about waning disinflation momentum. Markets are still not pricing in additional Fed rate hikes this year even as US August CPI previews note expectations for a pickup in headline inflation.
Companies Mentioned: JM Smucker, Hostess Brands, Meta, Arm