Overseas Trading: Global Stocks Stumble Ahead of U.S. Jobs Report

Downbeat data out of Japan weighed on Asian stocks ahead of today's U.S. nonfarm payrolls report

by Alex Eppstein

Published on Apr 1, 2016 at 8:29 AM

Stocks in Asia mostly retreated, as traders digested a mixed round of data and looked ahead to the U.S. nonfarm payrolls report. Japan's Nikkei led regional markets lower, plunging nearly 3.6% after the Bank of Japan's Tankan survey revealed business sentiment was at its lowest level in three years among major manufacturers. Joining the sell-off were Hong Kong's Hang Seng and South Korea's Kospi, down 1.3% and 1.1%, respectively -- with the losses in Seoul driven by soft trade data. Bucking the trend lower was China's Shanghai Composite, which edged 0.2% higher following monthly gains in both the Caixin manufacturing purchasing managers index (PMI) and the government's official PMI.

European stocks are selling off, with traders jittery ahead of the U.S. jobs report. Markets are also reacting negatively to the downbeat data out of Japan, the steepest drop in European factory good prices since 2009, and widening losses in oil prices, with Brent crude futures off more than 2% at $39.41. At last check, France's CAC 40 and Germany's DAX have both stumbled about 2.2%, while London's FTSE 100 has dropped 1.3%.

160401overseas


Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.


A Schaeffer's exclusive

TOP STOCK PICKS 2020

Access your FREE insider report before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.
Stocks Eye Notable Weekly Gains on 3-Day Surge
Stocks are eyeing big weekly gains
WW Stock Brushes Off Bull Note
Morgan Stanley upgraded the Weight Watchers parent to "overweight" from "equal weight"
IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.