Commuters traversed the Millennium Bridge in London, with the City’s skyscrapers in clear view, on Tuesday, October 29, 2024. As European markets gear up for mixed openings on Friday, there’s a cautious start to November influenced by a spate of earnings and anticipation surrounding the crucial U.S. jobs report.
According to data from IG, the FTSE 100 in the U.K. is set to rise by 8 points to 8,113. Germany’s DAX and France’s CAC are also likely to see slight increases, by 6 points to 19,060 and 8 points to 7,342 respectively, while Italy’s FTSE MIB is expected to drop by 22 points to 34,008. This comes after European stocks had a challenging Thursday, closing October with the steepest losses of the year. Investors seemed cautious, closely examining corporate earnings, inflation data, and the landmark U.K. budget.
Meanwhile, Asia-Pacific markets experienced declines on Friday, reacting to various economic indicators. Japan’s Nikkei 225 fell more than 2.6%, extending losses from the prior session when the Bank of Japan maintained steady interest rates.
In the U.S., stock futures inched higher as traders awaited the October jobs report, due at 12:30 p.m. London time. This anticipation follows a subdued trading session on Thursday, where major indices such as the Nasdaq Composite and S&P 500 slipped due to disappointing earnings from tech giants Microsoft and Meta.
The U.S. nonfarm payrolls report, a key barometer of economic health, is set for release ahead of the upcoming presidential election and the Federal Reserve’s policy meeting. The data is eagerly anticipated, as it will shed light on the broader economic landscape and influence upcoming strategic decisions by policymakers.
Original Story https://www.cnbc.com/2024/11/01/europe-markets-live-updates-economic-data-earnings-us-jobs-report.html
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