After the setback yesterday, stocks are holding a more tentative and cautious mood so far in European trading. Here's a snapshot of things:
- Eurostoxx -0.2%
- Germany DAX -0.3%
- France CAC 40 -0.2%
- UK FTSE +0.4%
- S&P 500 futures -0.2%
- Nasdaq futures -0.2%
- Dow futures -0.2%
For the DAX and CAC 40 indices, it is a bit of a light retreat after running up against its highest levels for the year in trading yesterday.
The JOLTS report yesterday was perhaps a reason for the pessimism creeping into equities and that makes for a bit of trepidation ahead of the ADP report later in the day.
That said, I would be remiss not to point out that you can pretty much draw up a dart board and throw to any figure there to get the ADP number these days. It has not been any accurate indicator of what to expect from the non-farm payrolls data for the longest of time now.
