Feb 7 2025, 15:17
European stock markets traded subdued on Friday, stalling near record highs ahead of the highly anticipated monthly U.S. payrolls report.
At 3:05 a.m. ET (08:05 GMT), Germany’s DAX index was trading largely unchanged, while France’s CAC 40 was down 0.1% and the U.K.’s FTSE 100 was down 0.1%.
The pan-European STOXX 600 index closed at a record high on Thursday, helped by mostly strong corporate earnings.
European stocks have performed at their best pace in a decade against Wall Street in the first six weeks of 2025, but doubts remain over whether the gains can be sustained given the euro zone’s weakening economy.
German industrial production fell more than expected in December, data released earlier Friday showed, falling 2.4% from the previous month, weaker than the 0.6% decline expected.
Investors are cautiously awaiting the release of the all-important U.S. jobs report for January, due later in the session, for more clues on potential monetary policy easing by the Federal Reserve going forward.
Traders are likely bracing for a potentially strong payrolls reading, with the U.S. economy expected to have added 154,000 jobs in January, after surging 256,000 in the previous month, while the unemployment rate is expected to match December’s pace of 4.1%.
Strength in the labor market gives the Federal Reserve more room to keep interest rates high for longer – a scenario that weighs on growth in the world’s largest economy. (Newsmaker23)
Source: Investing.com
