European markets expect drop following latest economic data release. European markets head for lower open on Tuesday as investors digested the recent economic data from the region and beyond.
London’s FTSE down 26 points lower at 7,136, Germany’s DAX seen opening 28 points lower at 15,860, France’s CAC 40 lower 14 points at 6,677, and Italy’s FTSE MIB 56 points down at 25,957, according to IG.
The European markets reported lower stocks after data released on Monday reported euro zone economic sentiment eased in August from a record high in July. Investors also eye on the latest data out of China that showed China's factory activity growth slipped sharply in August.
Asia-Pacific markets declined overnight following the data release. In Hong-Kong, shares of Tencent and Netease dropped 3.18% and 3.46%, respectively. The stock report came by Tuesday afternoon after China’s National Press and Publication Administration released new guidelines.
According to data released Tuesday, China’s factory activity surged at a slower pace in August than the previous month.
Meanwhile, U.S. stock futures jumped slightly in overnight trading as the S&P 500 is on track for its seventh straight month of gains at a record high.
On Friday, investors keep eye on key jobs report ahead of the Labor Day weekend. Economists anticipated 750,000 jobs were created in August and the unemployment rate dropped to 5.2%.
On Tuesday, European markets also revealed the latest data, including German’s unemployment data for August, inflation rates in French and Italy’s second-quarter GDP reading.