PARIS (Reuters) – European markets advance to open on Friday, with investors remaining cautious as bond yields start to rise again and a crucial U.S. jobs report is expected later in the day.

In Paris, the CAC 40 advanced 0.43% to 7,028.42 points around 07:35 GMT. In Frankfurt, the Dax gained 0.58%, compared to 0.36% for the FTSE in London.

The pan-European FTSEurofirst 300 index takes 0.36%, the EuroStoxx 50 0.55% and the Stoxx 600 0.44%.

Futures on New York indices suggest a hesitant opening on Wall Street, with the Dow Jones and Standard & Poor’s 500 showing no clear direction, with the Nasdaq gaining 0.11%.

Risky assets are growing in a context of caution, despite the resumption of sales on the bond markets, at an admittedly moderate pace.

The markets are digesting numerous indicators, which demonstrate the resistance of the American economy and support the restrictive bias of the Federal Reserve.

However, the tightening of financial conditions this week – the yield on the 10-year American sovereign reached a 16-year high on Wednesday – blurs the rate outlook.

As such, the employment report expected at 12:30 GMT will shed light on the persistence of tensions on the labor markets in the United States, one of the main factors in the resistance of inflation and the restrictive bias of the Fed .

Any surprises on the indicator could have a disproportionate impact on the markets.

In terms of values, Phillips is down 9.59%, trailing the Stoxx 600, after the US Food and Drug Administration ruled that the recall and testing of thousands of products intended to treat sleep apnea was not not sufficient to assess the risks these products pose.

(Written by Corentin Chappron, edited by Kate Entringer)

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