European stocks climb; German factory orders rise ahead of U.S. jobs report
Investing.com - European stock markets edged higher Friday in cautious trading as investors awaited the release of the monthly U.S. jobs report that could set the tone for the Federal Reserve’s next interest rate move.rose 3.9% on the month in August, a sharp improvement from the revised 11.3% drop the prior month, helped by a strong increase in computing, electronic and optical products.Goldman Sachs expects economic growth in the euro area to recover to 1.25%-1.
Elsewhere, European Union leaders are set to meet in a summit in Spain, starting later Friday, and are set to discuss how the bloc can strengthen its competitiveness, be at the forefront of new green and digital technologies and reduce its reliance on third countries, notably China. The EU leaders could also discuss a potential agreement with the U.S. on steel and aluminium trade that would avert the re-imposition of Trump-era tariffs, according to Bloomberg News.held the rate steady when they met in September, but a hawkish assessment of conditions pointed to another interest rate increase this year, resulting in U.S. Treasury yields soaring to 16-year highs.) stock rose 7.
Official U.S. data this week showed a sharp build in gasoline stocks, indicating a decline in gasoline demand in the largest consumer in the world, and attention now turns to the release of the U.S. monthly jobs report later in the session for signs of how strong the economy is. The U.S. crude benchmark was down 9% this week, heading for its sharpest weekly loss since April, while the Brent contract was down more than 11%, on course to its sharpest weekly loss since March.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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