European Markets Seen Opening On A Weak Note

Major stock markets in Europe are seen opening the new week on a weak note as anxiety ahead of non-farm payrolls data from the U.S., inflation and balance of trade data from China etc. weigh on sentiment. Fed Chair Jerome Powell’s comments on Friday that attempted to push back on interest rate cut expectations and warning that it was premature to anticipate policy easing also lingered.

Wall Street had closed on a positive note on Friday amidst renewed rate cut expectations and Fed Chair Jerome Powell’s comments that inflation was moving in the right direction. Nasdaq Composite gained 0.55 percent to close at 14,305.03 whereas the Dow Jones Industrial Average edged up 0.82 percent to finish trading at 36,245.50.

Positive sentiment prevailed in the European bourses as well on Friday amidst encouraging inflation data from the region as well as growing rate cut expectations. Germany’s DAX topped with gains of 1.1 percent. U.K.’s FTSE 100 followed with gains of a little over a percent. The pan-European Stoxx-50 rallied 0.79 percent. France’s CAC 40 gained close to half a percent. Gains for Switzerland’s SMI were modest at 0.30 percent.

Current indications from the European stock futures however indicate a negative sentiment. The CAC 40 Futures (Dec) is trading 0.24 percent lower. The pan-European Stoxx 50 Futures (Dec) has slipped 0.14 percent. The DAX Futures (Dec) is currently trading 0.10 percent lower. The FTSE 100 Futures (Dec) has edged down 0.08 percent. The SMI Futures (Dec) had finished 0.95 percent higher on Friday.

American stock futures indicate mild losses. The US 30 (DJIA) is trading 0.04 percent lower, whereas the US500 (S&P 500) is trading 0.20 percent lower.

Asian stock markets are trading on a mixed note as concerns about China as well as hopes of rate cuts by the Fed, both weighed on sentiment. India’s Nifty 50 has surged 1.5 percent. Australia’s S&P ASX 200 has rallied 0.73 percent. South Korea’s KOSPI has gained 0.48 percent. China’s Shanghai…