The European markets managed to pull up from their intraday lows despite a bad open from the Dow Jones.
Falling 260 points after the bell, the Dow found itself lurking just below 24000. That decline was, however, far better than the 500 point plunge suggested by the futures, and kept the index at the top end of its recent trading range, even if it has so far struggled to find a reason to burst through that key level with any permanence.
That slightly better than forecast start from the Dow allowed Europe to shake off the excesses of the day. Moving away from their 1%-plus declines, the FTSE returned to 5800 as it added 0.2%, while the DAX kept above 10600 as it rose a handful of points.
Looking to Tuesday and the arrival of the latest UK jobs report – one that has a coronavirus-related claimant count change reading, and a pre-pandemic pair of wage growth and unemployment figures – and the ZEW economic sentiment numbers will likely help shape tomorrow morning’s European session.
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