The FTSE 100 and European equities have started the week beginning Monday, September 9, 2024, strong, with the London index rising, currently up 0.5% shortly after the open. On Friday, the FTSE 100 fell 0.73% lower, closing the week at 8,181.47 after key US jobs data pushed stocks on both sides of the Atlantic lower.
While US Federal Reserve Chair Jerome Powell recently indicated the Fed would cut rates at its next meeting, there have been concerns about a weakening jobs market in the US, which has impacted global equities as market participants become concerned with the potential for a broader economic slowdown.
Economic Events & Earnings To Mark The Week
On the economic calendar for the UK, it is a somewhat busy week. Key data points to watch include:
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- Tuesday, 7 am: UK Unemployment Rate, Average Earnings
- Wednesday, 7 am: UK GDP, Industrial Production, Manufacturing Production
- Thursday, 12:01 am: RICS House Price Balance
Elsewhere, US inflation (Wednesday), PPI (Thursday), and consumer sentiment data (Friday) will be reported this week.
On the earnings front, the UK corporate diary shows that Associated British Foods, Trustpilot, Frontier Developments, Dunelm, and Trainline are set to update the market this week.
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