US Index Futures Waver with Focus on Jobs Data – Europe Market Wrap
US equity-index futures varied, and European equities fell, adding to the volatility that has gripped global markets for days as the debate over central bank policy decisions continues to feed investor worry.
Following overnight drops on Wall Street, contracts on the S&P 500 and Nasdaq 100 fluctuated between tiny gains and losses. Europe’s Stoxx 600 index erased much of Wednesday’s gains, driven down by technology and mining stocks. MSCI’s Asia-Pacific Index fell, while Japan’s Topix Index returned to the red after a recent rally. The dollar sank versus major currencies, while Treasury yields fell.
Markets have been volatile since sluggish economic data last week raised concerns that Federal Reserve policy is threatening a worse slump. Following last week’s shaky payrolls results, Thursday’s US jobless claims reports are more important than ever. Investors are also expecting the US and Japanese central banks to hike interest rates in different directions in the coming months, placing more burden on the yen-funded carry trade.
