On this Thursday before the long Easter weekend, the European stock markets are timidly starting the session in the green. Investors are awaiting the U.S. jobs report to be released on Friday, which could influence the Fed’s rates.
Equilibrium is close, but the outlook is uncertain. The main European stock markets were expected to be on a cautious note at the opening Thursday.
In Paris, the CAC 40 was up 0.25% to 7,334.60 points around midday GMT, in London, the FTSE 100 was up 0.50% and in Frankfurt, the Dax was up 0.26%.
At the same time, the EuroStoxx 50 index was up by 0.075%, the FTSEurofirst 300 by 0.28% and the Stoxx 600 by 0.35%. The futures on Wall Street predict a stability for the Dow Jones, the Standard & Poor’s 500 and the Nasdaq, the day after a session in the red for two of the three main U.S. indices.
Labor market under scrutiny
The day’s session should once again be driven by economic indicators, particularly the weekly unemployment figures in the United States.
Investors are indeed cautious after the publication yesterday Wednesday of two statistics on the labor market in the United States: the report “Jolts” on job offers, and the survey of the private firm ADP. Indeed, the U.S. labor market is showing a slowdown, a sign that the aggressive monetary policy of the U.S. Federal Reserve (Fed) is starting to take effect but could at the same time push the economy into recession.
Weekly U.S. jobless claims will be released at 12:30 GMT, ahead of the official labor market report due on Friday, while stock markets around the world will be mostly closed tomorrow.
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