PARIS (Reuters) – European markets are hesitant to open on Friday before the publication of the US employment report, decisive for the trajectory of rates across the Atlantic.
In Paris, the CAC 40 fell 0.24% to 7,299.1 points around 07:24 GMT. In Frankfurt, the Dax fell 0.16%, the FTSE in London remaining stable.
The pan-European FTSEurofirst 300 index is treading water, like the Stoxx 600, while the EuroStoxx 50 is down 0.12%.
New York index futures suggest a mixed opening on Wall Street, with the Dow Jones nibbling 0.12%, while the Standard & Poor’s 500 is flat and the Nasdaq is down 0.14%.
The US PCE inflation index was flat on Thursday, as consensus expected, but new jobless claims fell the week of August 25, surprising investors who had been expecting a rebound in jobless claims. .
The fall in the number of new job seekers has clouded the good data on price dynamics, as it reflects the strength of labor markets, the main drivers of inflation across the Atlantic.
The monthly employment report, expected at 12:30 GMT, will therefore be decisive, since it will offer a complete view of the labor market and the persistence of these tensions regularly mentioned by the Federal Reserve.
In values, Volkswagen lost 2.5% after UBS lowered its recommendation from “neutral” to “sell”.
Renault lost 3.55% after UBS lowered its recommendation from “neutral” to “sell”.
(Writing by Corentin Chapron, editing by Kate Entringer)
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