Investing.com – European stock markets slipped slightly lower on Friday, with investors cautious ahead of the closely watched monthly US jobs report, a key influencer in deciding future Federal Reserve rate expectations.
At 03:10 ET (08:10 GMT), it was down 0.1% in Germany, slipped 0.1% in France and down 0.1% in the UK.
US payrolls in focus
Friday’s list of European economic data is largely empty, with only industrial production data for November to review.
With this in mind, most eyes will be on across the pond, with the monthly US jobs report showing that the US economy added 154,000 jobs in December, while it is expected to hold steady at 4.2%.
Labor market data has been volatile in recent months due to disruptions caused by strikes and hurricanes, but the surrounding numbers point to a relatively healthy labor force.
With investors barely waiting for two interest rate cuts by the Federal Reserve this year, the data is likely to remain consistent with a gradually slowing but still solid labor market.
In Europe, it is believed that the European Central Bank will ease monetary policy this year, while the Eurozone economy is seen to be in a much weaker state.
The ECB is widely expected to cut interest rates at least four times in 2025.
AI boosts TSMC sales
In corporate news, the technology sector will be in focus on Friday after Taiwan Semiconductor Manufacturing (NYSE: ), the world’s largest contract chip maker, reported a sharp rise in December sales, thanks to strong demand from the fast-growing artificial intelligence industry.
Elsewhere, a report from Italian financial newspaper Il Sole 24 Ore indicated that Italian luxury group Prada ( OTC: ) is considering buying fashion group Versace from Capri Holdings ( NYSE: ) .
Crude oil on course for weekly gains
Oil prices rose on Friday, on track for a third straight week of gains, with demand boosted by harsh winter conditions in parts of the United States and Europe.
By 3:10 a.m. ET, U.S. crude futures (WTI) were up 0.9% at $74.57 a barrel, while the contract was up 0.9% at $77.60 a barrel.
In the three weeks ending January 10, Brent advanced 6%, while WTI jumped 7%.
Many parts of the central and eastern United States are expected to experience below-average temperatures over the next few days, while many regions in Europe are also affected by extreme cold, which is likely to increase heating demand.
