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European stocks steady before jobs data
European stocks stabilized at a level close to their lowest in several weeks at the start of trading, following a sharp sell-off that affected the markets this week. This was temporarily supported by statements from Federal Reserve officials suggesting that they might pause rate hikes if economic data continues to show a slowdown in inflation. Shares in the technology and real estate sectors declined, while yields on sovereign bonds rose—especially German bonds, which reached their highest level since 2011. Additionally, escalating tensions in the Gulf and rising oil prices contributed to increased inflationary pressures. Analysts expect that U.S. labor market data, particularly the upcoming payroll report, will remain the main driver of the markets, with chances of divergence in the Federal Reserve's decisions in September—whether to hold or raise interest rates.
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