► European equities are trading slightly higher, with the Stoxx 600 up 0.5% currently. Miners lead the pack on news of a Chinese iron-ore buying agency's discussions with global suppliers. However, gains were tempered by concerns in the energy sector, with oil witnessing its steepest weekly drop since March driven mostly by demand worries. In addition to this, the recently released German factory orders came in better than expectations, giving European investors a sliver of optimism.
► US equity futures are trading slightly lower with the S&P 500 and Nasdaq 100 experiencing slight pre-market selling. A key factor underpinning market sentiment is the upcoming US nonfarm payrolls report. Investors are anticipating a slowdown in hiring last month, potentially relieving the Federal Reserve from immediate interest rate hikes but concerns are high that hiring remained robust which would cause further selling in stocks as it gives the Fed more reasons to remain on it's restrictive course.
► There will be little movement before the NFP report – which will be released before NYSE opening (12:30 UTC+0). While job-openings exceeded forecasts, ADP's employment figures weren't as as clear. The speculation is that should the nonfarm payrolls underwhelm, it could substantiate recent trends of a softening labor market which would also help cooling inflation. In addition to this, investors await next week's inflation data to help paint a clearer picture on US economic health.
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