Daily Stock Market Reports

European markets open to close as investors react to U.S. jobs data


European markets opened lower on Friday as investors closely monitored news from China over its zero-Covid policy and looked ahead to U.S. non-farm payrolls data.

The pan-European Stoxx 600 was down 0.5% after the open but narrowed losses to 0.1% later in the morning. Oil and gas led losses, down 1.2%, as mining stocks fell 0.8%. Travel stocks were up 0.7% and the retail sector added 0.6%.

It comes shortly after the European Union tentatively agreed to a $60 barrel price cap on Russian seaborne oil, according to a document seen by Reuters. The price cap, an idea proposed by the Group of Seven, still requires approval from all 27 EU governments in a written procedure on Friday.

Data releases in Europe include German import and export data and producer prices for the euro zone.

The Stoxx 600 closed down 0.1% in the previous session.

Markets in Asia-Pacific were lower on Friday after China signaled a slight easing of its stringent Covid restrictions. Stocks in Japan led losses, with the Nikkei 225 last seen 1.6% lower and the Topix falling 1.6%.

Stateside, S&P 500 futures were slightly lower as market participants looked ahead to the November jobs report.

Economic data including the Labor Department’s report on non-farm payrolls, the unemployment rate and hourly wages are due at 8:30 a.m. ET on Friday. Economists expect the economy to have added 200,000 jobs in November, according to Dow Jones. That would be a decrease from the 261,000 it added in October.



Read More: European markets open to close as investors react to U.S. jobs data

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