US equity futures are indicating a higher open as of 05:00 ET. European equity markets are firmer, following broad strength in Asia. Treasury Secretary Yellen said recession isn't inevitable, but inflation is unacceptably high. Yellen also said that the US is discussing a Russian oil price-cap plan with its allies. China's Covid outbreak is shifting to other regions with flareups in Shenzhen and Macau.
Companies Mentioned: Mondelez (NASDAQ:MDLZ) International, JetBlue Airways, Spirit Airlines, Leonardo DRS, Rada Electronic Industries