📆 Friday, May 3
► European equities edged higher today, supported by a tech-led rally across the continent. The Stoxx 600 index rose by 0.35% as technology shares led the gains ahead of critical US jobs data. Noteworthy corporate performances included Societe Generale and Credit Agricole, both of which reported earnings that surpassed expectations, buoyed by robust trading in equities and corporate banking, respectively. France's industrial production experienced a slight decline of 0.3% in March, hinting at challenges within the manufacturing sector.
► US stock futures showed strong gains with the Nasdaq and S&P 500 up by 0.6% and 0.3% respectively. This was driven by a post-earnings surge in Apple's stock following its announcement of better-than-expected results and a record share buyback plan. The anticipation for today’s non-farm payroll data is high, with investors keen on insights into employment trends that could influence the Federal Reserve's rate path. The US anticipates non-farm payroll data, with a forecasted increase of 240,000 jobs, the potential next market catalyst after Powell's rate hike discussions. The US 10-year Treasury yield dipped slightly this week, providing a calmer backdrop for equities as rate sensitive stocks rally.
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