While US stock indexes soared throughout the pandemic, reaching record heights, European ones were much more chaotic. Furthermore, they showed severe drops multiple times, causing investors to worry. However, this week seems like the indexes will close with the highest rise since November. US Stocks also demonstrated growth in expectations of incoming nonfarm payroll data.
The Stoxx Europe 600 index displayed an upward movement of 0.3%, jumping to 410.39 points in total. On a weekly level, that places it at +3.8%, which is the best result since the November 13 rise of 5.1%. As for countries’ individual indexes, they were mostly calmer. The German DAX and the UK’s FTSE 100, for example, jumped 0.1% and remained flat, respectively.
Another big winner was the French CAC 40, recording an even more significant growth than Stoxx Europe 500. The French index was just short of a full percent upwards, sitting at 0.9%. However, similarly to Europe, the week has been kind to the US as well, as its major indexes move upwards.
Nasdaq-100 futures demonstrated growth of about 0.3%. Meanwhile, the Nasdaq Composite broke records once again on Thursday, bolstered by a drop in Covid-19 deaths. Further boosting US stock performance is positive job data for the month of January. The S&P 500 also had a record-breaking Thursday, mimicking Nasdaq.
No matter where they are, the primary focus for investors is the US job data for January. The number most expect to see is a rise of about 55,000 jobs. However, labor markets still struggle to recover from the Covid-19 explosion that hit during the winter.
European countries see similar issues, even though case and death numbers seem to be declining steadily as time passes. Namely, Germany was the one to report a drop in manufacturing orders for December that exceeded expectations.
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