📆 Tuesday, December 5
► The Stoxx 600 remained largely unchanged, reflecting caution among investors. The Eurozone PMI data for November showed a marginal improvement in the services sectors of France, Germany, and the UK, with readings slightly below the expansion threshold, indicating a slight improvement but show there are still ongoing economic challenges. While France's industrial production saw a modest rise. Investors in Europe await more economic data, such as the Eurozone GDP on Thursday and German CPI on Friday.
► In the US, S&P 500 and Nasdaq futures saw a decrease of around 0.25% and 0.4% respectively in pre-market trading despite US Treasury 10 year yields sliding lower 4.247% (-4 bps). November's significant rallies in global equities and bonds have not continued into December, indicating investor caution over aggressive market bets on rate cuts. Investors are keenly awaiting U.S. jobs data (15:00 UTC+0), expected to provide insights into the economy's health and the potential for a soft landing.
► Asian markets, especially in Hong Kong and China, faced declines. China's Caixin General Service PMI increased to 51.5, marking the 11th consecutive month of growth and the quickest expansion in services activity since August. In addition to this we see, Chinese shares are partially recovering following state-backed purchases in ETFs. However, China’s persistent debt issues, underscored by Moody’s recent negative outlook, dampened investor sentiment. Japan's Nikkei 225 index fell, with traders awaiting Chinese inflation data for more insights into the economic outlook.
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