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The Breakfast Briefing: Europe Stocks Gain With U.S. Futures; Bonds Steady
FYI: U.S. stock index futures moved higher Friday morning.
Wall Street ended Thursday on a lower note despite better-than-expected earnings in the tech sector.
Global stocks rose Friday as investors perused economic data and corporate earnings for clues on the health of the global economy ahead of the U.S. jobs report.
The Shanghai Composite Index gained 1% as a private gauge of China’s factory activity showed growth for the third straight month in October as exports strengthened. In contrast, the official gauge showed a contraction for the sixth consecutive month. Hong Kong’s benchmark Hang Seng Index rose 0.7%.
The pan-continental Stoxx Europe 600 index gained 0.3%. Among the biggest equity movers in Europe was Danske Bank, which fell 3.6% after the lender warned it expects profit for the year to be at the lower end of its guided range as a money-laundering probe continues.
Stock futures tied to the S&P 500 index edged up 0.2% as investors looked ahead to the latest jobs report—due later in the day—to assess the strength of U.S. output. Economists forecast employers added 75,000 jobs during the month and the unemployment rate rose to 3.6%, with the General Motors strike weighing on the figures.
A broader gauge of U.S. manufacturing activity from the Institute for Supply Management is also due later in the day. Regards, Ted
