Investing.com – European stock markets were mixed on Friday as investors digested new corporate earnings, including from iPhone maker Apple (NASDAQ:), ahead of the release of a key monthly U.S. jobs report.
At 03:20 ET (0720 GMT), German shares were trading 0.2% higher, French shares were down 0.3% and UK shares were trading flat.
Corporate reporting session continues
European markets received strong support from Wall Street, supported by technology stocks, while positive news from Apple supported sentiment. However, some caution should be exercised before releasing key US employment data.
Apple’s quarterly results and guidance beat modest expectations after the close of trading on Wall Street on Thursday, while the iPhone maker announced a record $110 billion share buyback program, the largest in its history, and a 4% increase in cash dividends. .
There are also corporate earnings in Europe to digest.
Credit Agricole (OTC:) shares rose 3.7% after France’s second-largest listed bank reported better-than-expected 55% first-quarter net profit growth, helped by corporate and investment banking sales that surpassed competitors.
Societe Generale (OTC:) shares rose 5.3% as first-quarter net profit fell less than expected as gains from equity derivatives sales offset weakness in the retail bank of France’s third-largest listed lender as well as weakness in bond trading with fixed income.
On the other hand, shares of Daimler (OTC:) Truck fell 5.9% after the German auto giant warned of a cooling market, even as the company beat expectations for core earnings in the first quarter, helped by strong performance from its business. Trucks North America.
remove advertising
.
Nonfarm payrolls look huge
The key economic data of the day comes from the US in the form of the closely watched monthly jobs report.
Jobs likely increased by 238,000 last month after rising by 303,000 in March, while the rate is expected to hold below 4% for the 27th straight month.
Federal Reserve Chairman Jerome Powell made clear the importance of upcoming economic data for policy decisions after the US central bank left interest rates unchanged on Wednesday.
Financial markets still expect the central bank to begin its policy easing cycle in September, but with strong numbers, that window could start to close.
Europe fell 0.3% in March from the previous month, which was disappointing, although data will be released later in the session.
Raw edges above
Crude oil prices rose from a nearly seven-week low on Friday but were poised for sharp losses this week due to demand uncertainty, strong U.S. crude inventories and easing tensions in the Middle East.
By 3:20 a.m. ET, futures were trading 0.5% higher at $79.33 a barrel, with the contract up 0.5% at $84.10 a barrel.
Both benchmark indexes are set to lose between 5% and 6% this week as investors worry about the prospect of higher interest rates for longer, holding back growth in the United States, the world’s biggest oil consumer, and other parts of the world.
Additionally, shares rose 0.1% to $2,310.05 an ounce and traded 0.1% higher at 1.0728.