On August 28, 2024, European markets opened higher, with the pan-European Stoxx 600 index gaining 0.67% in early London trading.
Travel and leisure stocks led the charge, increasing by 1.69%, while tech stocks also saw a rise of 1.14%.
This positive momentum comes after a weak start in Asia-Pacific markets, with Japan’s Nikkei 225 facing significant losses, triggered by a weaker-than-expected U.S. jobs report.
The U.S. nonfarm payrolls report showed a rise of 142,000 jobs, falling short of the 161,000 anticipated by economists.
Despite the unemployment rate dropping to 4.2%, concerns over a slowing U.S. labor market have impacted global sentiment.
As a result, U.S. stock futures remained lower after a rough week, with the S&P 500 tumbling 4.3% and the Nasdaq Composite plunging 5.8%.
European markets are showing resilience, with all major sectors trading positively on Monday, in contrast to the recent declines seen in Wall Street and Asia.
There are no major earnings or data releases scheduled in Europe, allowing investors to focus on global trends and potential market opportunities.