European markets set to open lower ahead of U.S. jobs report

  • The market, focused on the link between inflation pressures and the reopening of U.S. businesses, is on tenterhooks before the release of the jobs report Friday.
  • It could show an additional 671,000 nonfarm payrolls in May, compared to the 266,000 jobs that were added the month before, according to economists polled by Dow Jones.

LONDON — European stocks are expected to open lower Friday as investors look ahead to a key U.S. jobs report later in the session.

London's FTSE is seen opening 20 points lower at 7,050, Germany's DAX is seen 35 points lower at 15,618, France's CAC 40 down 21 points at 6,497 and Italy's FTSE MIB 39 points lower at 25,390, according to IG.

The market, focused on the link between inflation pressures and the reopening of U.S. businesses, is on tenterhooks before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, compared to the 266,000 jobs that were added the month before, according to economists polled by Dow Jones.

On Wall Street, U.S. stock futures were little changed in overnight trading Thursday ahead of the May jobs report. This after new unemployment data released Thursday came in better than expected. First-time claims for unemployment benefits for the week ended May 29 totaled 385,000, compared to the Dow Jones estimate of 393,000. It also marked the first time that jobless claims fell below 400,000 since the early days of the pandemic.

Meanwhile, shares in Asia-Pacific were mixed in Friday trade, as investors looked ahead to the Reserve Bank of India's interest rate decision.

Back in Europe, there are no earnings announcements due but euro zone retail sales data will be released at 10 a.m. London time.

CNBC PRO:

These are JPMorgan’s top stock picks for June

These inflation winners are beating the market again this year and have potential upside

Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now

– CNBC's Maggie Fitzgerald and Eustance Huang contributed to this market report.

Source: Read Full Article