European Shares Seen Opening Up Ahead Of US Payrolls Report
(RTTNews) - European stocks may open higher on Friday as the focus shifts to the monthly U.S. jobs report due later in the day.
The report might provide clues as to how aggressively the Federal Reserve will raise interest rates next month.
U.S. employment is expected to increase by 250,000 jobs in July after an addition of 372,000 jobs in June. The unemployment rate is expected to hold at 3.6 percent.
Asian markets were mostly higher while gold was little changed after having jumped over 1 percent overnight on the back of a pullback in U.S. Treasury yields and the dollar.
Oil prices were slightly higher in Asian trading after hitting their lowest since before Russia's February invasion of Ukraine in the previous session.
U.S. stocks ended mixed overnight as U.S.-China tensions simmered, weekly jobless claims ticked up and Cleveland Federal Reserve Bank President Loretta Mester said that the risks of recession have risen.
The tech-heavy Nasdaq Composite rose 0.4 percent to reach a new three-month closing high while the Dow slipped 0.3 percent and the S&P 500 eased marginally.
European stocks ended mostly higher on Thursday even as the Bank of England raised interest rates by the most in 27 years and warned Britain would enter a recession at the end of 2022.
The pan-European Stoxx 600 edged up 0.2 percent. The German DAX and France's CAC 40 index both gained around 0.6 percent while the U.K.'s FTSE 100 finished on a flat note.
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