LONDON — European markets are poised to cautiously rise on Monday as investors watch to see what businesses do and take into account recent economic indicators, in order to predict a looming recession.
At this point, the British FTSE 100 index is seen 19 points higher at 7,459, the German DAX is expected to be 54 points higher at 13,628, and the French CAC 40 is set to rise 21 points to 6,493.
The pan-European Stoxx 600 index closed on Friday evening at -0.8% after an unexpectedly strong U.S. jobs report reduced the probability of an economic recession and, consequently, increased the chance of a U.S. Federal Reserve hike to raise interest rates in order to combat inflation.
Markets in Asia-Pacific have been up and down overnight, with Hong Kong’s tech-heavy Hang Seng index having the largest effect on the rest of the region.
U.S. stock futures remain steady as the S&P 500 holds at a third straight week of gains and investors wait for an inflation report.
On the data front, a new Sentix economic sentiment index for the eurozone is due tomorrow morning.
Corporate earnings still seem to be at the root of share price movements in Europe, with Siemens Energy, Porsche, and BioNTech all reporting earnings before the bell today.