Globex is open for the new week - US equity index futures lower

After a huge slump on Friday, US equities have opened weak in Sunday evening, US time, Globex trading.

There was not a lot on the news front over the weekend to boost spirits. I just posted on Goldman Sachs views, they've jackecd up their inflation, unemployment (stagflation!), and recession risk forecasts:

• Goldman Sachs says 35% chance of recession (from 20%) in 12 months

I noted in that post that despite rising inflation Goldman Sachs are forecasting 3 Federal Open Market Committee (FOMC) rate cuts this year - based on growth slumping.