📆 Friday, January 10
► Euro Stoxx 600 futures are slightly lower as investors brace for US nonfarm payrolls data, which could shape the Federal Reserve’s policy outlook. UK stocks, which outperformed yesterday on the back of strong mining and energy stocks are underperforming today. Volatility persists as markets digest inflation concerns and central bank signals but we see investors not making big bets ahead of important US labor market data. Industrial production and retail sales data from across Europe paint a mixed economic picture, with French industrial production rising 0.2% MoM in November, while Italy's retail sales declined 1.1% YoY.
► US stock markets resumed trading Friday after Thursday’s closure for a National Day of Mourning for former President Jimmy Carter. Futures for the S&P 500 and Nasdaq are little changed. Investors are closely watching the US labor market report (13:30 UTC+0), which is expected to show a decline in hiring in December (according to analysts' expectations), with the median figure standing at 165,000 new jobs. Government bond markets remained stable after this week's volatility, with the 30-year yield remaining near multi-year highs of over 4.9%. The USD remains stable following recent gains and the DXY (USD index) is trading close to a two-year high.
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