(RTTNews) – French stocks rose on Monday as investors awaited a raft of U.S. data due this week that may send an upbeat signal on the pace of recovery in the world’s largest economy.
The benchmark CAC 40 was up 23 points, or 0.4 percent, at 6,292 after losing half a percent on Friday. Underlying sentiment remained cautious amid surging COVID-19 cases in some countries such as Japan and India.
Eurozone PMI Manufacturing was finalized at 62.9 in April, up from March’s 62.5, highest since record began in 1997, Markit said earlier in the day.
The U.S. economic reports due this week are expected to show a strong rebound in U.S. activity led by fiscal stimulus and further reopening of the economy.
Today’s data include ISM manufacturing PMI, followed by ADP private sector payrolls on Wednesday. The focus will then shift to the weekly jobless data on Thursday and nonfarm payrolls data on Friday.
Economists expect that nonfarm payrolls grew by 978,000 jobs in April, up from March’s gain of 916,000 jobs.
Fed Chair Powell will speak in an event hosted by the National Community Reinvestment Coalition later in the day.