Stocks Mixed as Traders Await Data for Rate Clues – Europe Market Wrap

Stocks were neutral as investors anticipated an annual review of US employment data and Federal Reserve meeting minutes for any indications on interest rate decreases.

US market futures hinted to minor changes at the Wall Street open, while Europe’s Stoxx 600 nudged 0.2% higher on weak trading. The 10-year Treasury yield remained unchanged at 3.81%, as the dollar halted a three-day slide.

Anticipation is building ahead of Fed Chair Jerome Powell’s Jackson Hole address at the end of the week, which could determine if the market comeback continues. As markets await Wednesday’s payroll revisions, there is concern that signals of severe weakness could reignite suspicions that the Fed is behind the curve in lowering rates.

Following the dollar’s recent losses, gold remained at a record high. Because gold is valued in US dollars, a weaker greenback is usually beneficial.