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LONDON – European markets opened slightly higher on Friday as investors tracked corporate earnings and awaited a key U.S. jobs report.

Britain’s FTSE 100 rose about 11 points to 7,459, Germany’s DAX was up about 12 points to 13,675 and France’s CAC 40 was expected to rise about 10 points to 6,523.

Markets had a cautious week as investors reacted to a slew of corporate earnings. The pan-European Stoxx 600 closed the previous session just above flat.

The Bank of England raised interest rates by 50 basis points on Thursday, while forecasting that UK inflation will peak above 13% in October and that the economy will enter a prolonged recession in the fourth quarter.

Friday’s U.S. jobs report at 1:30 p.m. London time is likely to provide clues about the Fed’s monetary tightening path and the state of the U.S. economy.

Economists expect 258,000 new jobs in July, down from 372,000 in June, according to Dow Jones data. The unemployment rate is expected to hold steady at 3.6%.

U.S. stock futures were cautiously higher in early pre-market trading as Wall Street looked to eked out modest gains this week.

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Asia-Pacific shares were mostly higher overnight, with Taiwan leading the region’s gains as investors shrugged off Chinese military drills after U.S. House Speaker Nancy Pelosi’s visit to Taiwan.

Earnings continued to drive individual share prices in Europe. Allianz, LSE Group and WPP were among the companies reporting ahead of the opening bell on Friday.

On the data front, French June industrial output, trade balance and current account data are due on Friday morning.

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