European indices set for slightly lower opening
NFP report expected to show sub-200k jobs growth
Final PMIs from Europe, non-manufacturing ISM from US
European index futures point to a flat or slightly lower opening today's cash session for major indices from the Old Continent. Moods on the markets deteriorated yesterday after the close of the US session following release of disappointing earnings reports from Apple, Amazon and Alphabet. DAX futures currently trade around 30 points below yesterday's cash close.
The day ahead is all about US jobs data for January. NFP report will be released at 1:30 pm GMT and is expected to show a sub-200k jobs gain as well as pick-up in unemployment rate. Wage growth is expected to slow but remain above 4% YoY. ADP report released on Wednesday pointed to a lackluster 106k jobs grow and question is whether NFP will confirm it. Apart from NFP data, traders will also be offered final PMIs from Europe as well as non-manufacturing ISM print from the US.
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8:15 am GMT - Spain, services PMI for January. Expected: 52.3. Previous: 51.6
8:45 am GMT - Italy, services PMI for January. Expected: 50.9. Previous: 49.9
8:50 am GMT - France, services PMI for January (final). First release: 49.2
8:55 am GMT - Germany, services PMI for January (final). First release: 50.4
9:00 am GMT - Euro area, services PMI for January (final). First release: 50.7
9:30 am GMT - UK, services PMI for January (final). First release: 48.0
1:30 pm GMT - US, NFP report for January.
Non-farm payrolls. Expected: +185k (ADP: +106k). Previous: +223k
Unemployment rate. Expected: 3.6%. Previous: 3.5%
Wage growth. Expected: 4.3% YoY. Previous: 4.6% YoY
2:45 pm GMT - US, services PMI for January (final). First release: 46.6
3:00 pm GMT - US, non-manufacturing ISM for January. Expected: 50.4. Previous: 49.2
Top US earnings releases:
Regeneron Pharmaceuticals (REGN.US) - before market open
Cigna Corporation (CI.US) - before market open
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