European Shares May See Cautious Start Ahead Of US Jobs Data

(RTTNews) - European stocks are seen opening a tad lower on Friday as investors await U.S. non-farm payrolls employment data, due out later in the day, for greater clarity and insights into the health of the job market and economy.

Economists expect employment to jump by 250,000 jobs in September after an increase of 315,000 jobs in August, while the unemployment rate is expected to hold at 3.7 percent.

Asian stocks fell broadly, Treasury yields remained elevated, and the dollar held an advance after Fed officials including Fed Governor Lisa Cook, Chicago Fed President Charles Evans and Minneapolis Fed President Neel Kashkari showed no intention of backing down from the most aggressive rate hike campaign in decades.

Oil prices fell slightly in Asian trade but headed for their biggest weekly rally since March following OPEC's controversial move to cut oil production by two million barrels a day.

Industrial production and retail sales figures from Germany and house price data from the U.K. are due later in the session, headlining a light day for the European economic news.

U.S. stocks ended lower for a second straight session overnight as the jobs report loomed and rising oil prices post OPEC+ cut added to inflation woes.

The Dow fell 1.2 percent, the S&P 500 shed 1 percent and the tech-heavy Nasdaq Composite declined 0.7 percent.

European stocks reversed early gains to end lower on Thursday as Fed pivot hopes faded and the latest data from Germany and the euro area disappointed.

The pan European Stoxx 600 gave up 0.6 percent. The German DAX slipped 0.4 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both dipped around 0.8 percent.