‍ECB President Mario Draghi rebuked investors six weeks ago for underestimating the extent of hikes required to bring soaring prices under control, then repeated the message at the World Economic Forum in Davos this month. Draghi has said that the ECB will need to raise rates more than markets are currently expecting in order to bring inflation back under control.

Futures for the S&P 500 fell 0.3% on Friday. Contracts for the tech-focused Nasdaq-100 declined 0.6%, while futures for the Dow Jones Industrial Average were close to flat. Investors are assessing how a fresh batch of economic data is likely to impact central-bank policy through the course of this year. The Fed raised interest rates seven times last year in an effort to slow economic growth and curb inflation.

The Federal Reserve's preferred measure of inflation rose 4.4% annually in December, down from 4.7% in November. This is the latest sign that the era of red-hot prices is coming to an end, and that the Fed may soon pivot to a less aggressive monetary policy stance.‍ The core personal-consumption expenditures (PCE) price index, also known as the core PCE deflator, rose 4.4% on an annual basis in December, in line with expectations of economists surveyed by FactSet.

Dow Inc. is a publicly traded company with a history dating back to 1897. The company is involved in a variety of businesses, including chemicals, plastics, and agriculture. Dow Inc. is headquartered in Midland, Michigan.

The 24-hour strike action began on Wednesday at midnight. Strikers are expected to picket outside the company's site in Coventry, England, throughout the day.At 6 a.m. London time, workers were pictured camping by a bonfire and waving union flags outside the Coventry site near Birmingham airport. The workers were protesting the proposed closure of the site, which is known as BHX4.

the Netherlands and Japan are close to joining a Biden administration-led effort to curb exports of semiconductor manufacturing equipment to China. This could potentially limit ASML's sales to Chinese customers, as the US seeks to undermine Beijing's ambition to build a self-sufficient supply chain.

As inflation rose last year, Wall Street's biggest banks saw opportunities for profit, while many households struggled to keep up with rising food and energy costs.‍ According to data from Vali Analytics Ltd. in London, lenders including Goldman Sachs Group Inc. and JPMorgan Chase & Co. made almost double what they made in 2021 from inflation trading last year, with around $3.9 billion in profits.