US futures are indicating a lower open. European equity markets have opened higher, following mostly higher Asian trade. The early week rally has been pinned on hopes for a central bank pivot following the RBA's smaller-than-expected hike and signs of cooling in US labor market activity. However, the pivot narrative faces increasing scrutiny after Fed officials reinforced hawkish messaging and warned against expectations of a rate cut. Outsized OPEC+ production cut also complicate the 'peak inflation' narrative with strategists revising up crude price targets
Companies mentioned: Google (NASDAQ:GOOGL), Compass, BrightSphere, Generali (BIT:GASI)