NewsWorldMARKET POINT-Cautious rise in sight in Europe before US...

MARKET POINT-Cautious rise in sight in Europe before US employment (updated)

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(Updated with futures, Tokyo close, bond market open in Europe, industrial production in Germany) * European indices expected up 0.1% to 0.2% * Asia and US “futures” in the green * The monthly report on employment in the United States on the agenda by Laetitia Volga PARIS, August 5 (Reuters) – The main European stock markets are expected to rise slightly on Friday at the opening before the highly anticipated publication of the monthly US employment report that could fuel the debate on the Federal Reserve’s strategy in the coming months. Futures contracts give an increase of 0.14% for the Parisian CAC 40 .FCHI , 0.19% for the Dax in Frankfurt .GDAXI , 0.15% for the FTSE in London .FTSE and 0.21 % for the EuroStoxx 50. On Thursday, most major indices closed in the green, once again driven by corporate results, which allow investors to temporarily hide concerns related to the global economy and the tightening central bank currencies. The London Stock Exchange, however, ended in equilibrium, held back by announcements from the Bank of England which painted a pessimistic picture for the British economy with a contraction in gross domestic product in the last quarter of this year and throughout. of 2023. The Federal Reserve will be indirectly in the spotlight this Friday via the publication at 12:30 GMT of the report on non-farm payrolls for the month of June in the United States. Economists polled by Reuters expect an average of 250,000 non-agricultural job creations in July after 372,000 the previous month. “It would be the weakest number of the year (…) A weak jobs number could temper the aggressive attitude of the Fed but it would have to be a surprisingly low number, even negative”, said Michael Hewson at CMC Markets. In Germany, industrial production recorded an unexpected increase in June (+0.4% against -0.3% expected by the Reuters consensus) despite supply chain problems weighing on the manufacturing sector. nZRN004TSS STOCKS TO WATCH: nL8N2ZG81D IN WALL STREET US futures signal a slightly higher open the day after a hesitant session, between the gains recorded by high-growth stocks and the decline in energy stocks as investors were waiting for the labor market report. The Dow Jones Index .DJI fell 0.26% to 32,726.82 points, the broader S&P-500 .SPX shed 0.08% to 4,151.94 points and the Nasdaq Composite .IXIC advanced 0. .41% to 12,720.58 points. Only the Nasdaq ended in the green, settling at a three-month high in the wake of Amazon AMZN.O (+2.2%) and Advanced Micro Devices AMD.O (+5.93%), while that the S&P-500 was weighed down by the decline of Exxon Mobil XOM.N (-4.21%) and Chevron CVX.N (-2.72%). Health insurer Cigna CI.N rose 3.1% after it raised its full-year profit forecast, while Eli Lilly lab LLY.N declined 2.6% after warning again about its profit for the year. IN ASIA In Tokyo, the Nikkei .N225 gained 0.87%, its highest in two months, the well-received results of several companies having allowed the reference index to cross the bar of 28,000 points. Agribusiness group Kikkoman 2801.T rose 9.25% after reporting a strong second-quarter profit while Nippon Steel 5401.T advanced 8.31% after reporting a less steep decline than expected from its annual profit. In China, the CSI 300 .CSI300 and the Shanghai SSE Composite .SSEC rose 1.03% and 0.88% respectively, supported by technology stocks. RATES/EXCHANGES The yield on ten-year Treasuries US10YT=RR rose slightly, to 2.6845% before the publication of the US employment report and the dollar gained 0.24% against a basket of benchmark currencies .DXY . The euro EUR= fell 0.21% to 1.0221 dollar EUR= . The ten-year German DE10YT=RR fell by one basis point at the opening, around 0.793%. OIL Oil prices are recovering after hitting their lowest levels since before Russia’s invasion of Ukraine in the previous session on concerns about the global economic outlook. Brent LCOc1 gained 0.44% to 94.53 dollars a barrel and US light crude (West Texas Intermediate, WTI) CLc1 0.63% to 89.1 dollars. MAIN ECONOMIC INDICATORS ON THE AGENDA FOR FRIDAY AUGUST 5: COUNTRY GMT INDICATOR PERIOD PREVIOUS CONSENSUS OF 06:00 Industrial production June -0.3% +0.2% FR 06:45 June trade balance €-12.56 bn €-12.99 bn USA 12:30 p.m. Job creation July 250,000 372,000 Unemployment rate 3.6% 3.6% Average hourly wage +0.3% +0.3% – over one year +4.9% +5.1% (Written by Laetitia Volga, edited by) ((Rédaction de Paris; +33 1 49 49 50 00;)) ((Values ​​to follow on the Paris Stock Exchange and in Europe WATCH/LFR ))

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