The overall market mood remains more tense, with investors keeping a close eye on later US jobs reports and a potential court decision on Trump’s tariffs. However, the mood in Europe this week has been largely more positive – at least the technical meltdown of yesterday has been avoided.
European stocks are now pushing modest gains to start the day, with France’s benchmark index leading the way. The CAC 40 is up 0.6% and closing in on a new record high. All else being equal, this would be the best weekly close for the index on record.
France CAC 40 Index Weekly Chart
This follows Germany’s own benchmark index, where the DAX has already hit new record highs with gains of more than 2% on the week. It may be trading more flat to start the session, but it has not been a good week for European investors. Additionally, Spain’s IBEX is also up more than 1% this week and at its record high.
So overall, it’s been a great week for the most part for European indices.
Now, it’s all about sticking that landing because we’ve got some big events to go through before the week is out.
US futures are already feeling more stressed, having remained stable day after day. As we saw yesterday the technicals were mixed with the Dow gaining 0.5% versus the Nasdaq falling 0.4%. AI valuation concerns kept things under control but today, it’s all about how investors will take the US jobs report and a possible Supreme Court decision on Trump’s tariffs.
So buckle up. It’s going to be a fun ride as we head into the weekend.
