European markets are set to open in positive territory on Thursday (Sept 4), as global investors assess the latest developments surrounding U.S. President Donald Trump’s trade tariffs.
According to data from IG, the U.K.’s FTSE 100 is projected to rise 0.16%, Germany’s DAX is expected to remain flat, France’s CAC 40 is seen up 0.1%, while Italy’s FTSE MIB is likely to gain 0.15%.
No major corporate earnings are scheduled in Europe today, though market participants will be watching closely for the release of the latest EU retail sales data.
Last week, a U.S. federal appeals court ruled that most of Trump’s imposed tariffs were illegal. In response, Trump urged the Supreme Court on Wednesday evening to take up his appeal swiftly in an attempt to overturn the lower court’s decision.
According to documents obtained by NBC News from the plaintiffs, Trump has requested the Supreme Court to hear arguments as early as November and deliver a final ruling soon after.
U.S. investors are also bracing for fresh labor market signals. The ADP private payrolls report is expected to reflect a slowdown, with economists forecasting around 75,000 new jobs in August, down from July’s 104,000. Weekly jobless claims are likewise projected to show a slight increase.
These figures will set the stage for Friday’s highly anticipated nonfarm payrolls report, which is likely to shape near-term sentiment on Wall Street, where traders remain cautious.
Overnight, major Asia-Pacific indexes posted gains, lifted by a strong rally in U.S. technology stocks that boosted both the S&P 500 and the Nasdaq Composite. However, broader concerns over the global economic outlook continue to weigh on sentiment.
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