European markets traded higher Thursday as market participants start to hope that the coronavirus pandemic is reaching a peak, but the latest U.S. unemployment claims data could hit sentiment.
The pan-European Stoxx 600 climbed 1.2% in early deals, with travel and leisure stocks jumping 4.5% to lead gains, as all sectors except telecoms traded in positive territory.
European markets look set to follow their Asian counterparts, which were trading higher Thursday, but market sentiment could take a hit when the latest U.S. unemployment claims report, for the week ended April 4, is set to release at 8:30 a.m. ET Thursday.
Economists are expecting an increase of 5 million, which would build on the record-shattering prior two readings of 6.6 million and 3.3 million. Economists forecast that the unemployment rate will jump into the teens this month, from March’s 4.4% level and the 3.5% in February.
U.S. stock futures pointed to a lower open on Thursday in overnight trading. Futures on the…
