Stock Futures – European markets focus on earnings, US job data, ECB meeting ahead
LONDON — European stocks advanced on Thursday following a global rebound in markets after days of negative sentiment.
The pan-European Stoxx 600 gained 0.3% in early trade, with tech stocks climbing 1% to lead gains as all sectors except financial services traded in positive territory.
European markets are following the positive momentum seen in yesterday’s session, echoing upbeat trading in Asia-Pacific overnight, although the same can’t be said for their U.S. counterparts.
U.S stock index futures declined in overnight trading on Wednesday despite stocks snapping a two-day losing streak Tuesday, as companies tied to the economy reopening led the way higher.
Europe has a busy day of earnings Thursday. Nestle, SAP and Renault are among the companies to report today.
Credit Suisse, meanwhile, reported a net loss of 252 million Swiss francs ($275 million) as it digests the impact of the Archegos hedge fund scandal.
The European Central Bank is also scheduled to deliver its latest monetary policy announcement, although no major shifts are expected.
Economic data released Thursday will also give investors a snapshot of the ongoing economic recovery. Initial jobless claims will be released at 8:30 a.m. ET, with economists expecting a print of 603,000, according to estimates from Dow Jones.
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– CNBC’s Pippa Stevens contributed reporting to this story