US futures are indicating a lower open. European equity markets have opened lower, following weak Asian trade. The Fed pushback against a dovish pivot and in favor of a raise and hold strategy, ramp-up in quantitative tightening from September, and expectations of a 75 bp ECB rate hike next week are heightening concerns over increasing central bank hawkishness. At the same time, the peak inflation narrative is coming under scrutiny amid surging energy costs while slowing growth is focusing attention on a stagflationary economic environment.
Companies Mentioned: 3M (NYSE:MMM), Advanced Micro Devices (NASDAQ:AMD), Meta Platforms