European stocks and US Treasury bonds drifted on Friday as investors held back from placing bets ahead of US jobs data that may influence the path of monetary policy in the world’s largest economy.
The Stoxx Europe 600 index opened 0.2 per cent lower, remaining close to its all-time high following seven months of gains driven by a sharp rebound in corporate earnings from last year’s pandemic-induced downturn. London’s FTSE 100 traded flat.
Futures markets signalled Wall Street’s S&P 500, which has also rallied to a record as companies’ earnings improved and investors banked on the Federal Reserve maintaining its $120bn of month of crisis-era bond purchases, would gain 0.1 per cent in early New York dealings.