Market Movers European Session – European Indices Down, Waiting Eurozone CPI and US NFP Data

# Market Movers: European Session – European Indices Down, US Futures Retreat, Waiting NFP Data

**Note**: This analysis is generated during the European market session, with European markets actively open. All economic event times are in US Eastern Time (New York time). Nikkei 225 is closed.

## Major News

**Market Overview**

As European markets are actively trading, the mood among investors appears cautious amid escalating geopolitical tensions and mixed corporate earnings reports. US futures are reflecting this sentiment, with the S&P 500 futures down 0.87% at 6,318.50, Nasdaq futures falling 0.90% to 23,154.25, and Dow futures decreasing by 0.94% to 43,887.00. In Europe, major indices are seeing varied performances: the DAX is down 1.47% at 23,711.23, the EURO STOXX 50 remains unchanged at 5,319.92, and the FTSE 100 has declined by 0.59% to 9,078.59. Meanwhile, the Nikkei 225 is closed, showing a previous drop of 0.66%.

**Market Reactions and Stock Movements**

The announcement of new tariffs by USA President Trump has sent ripples through the financial markets, particularly affecting European pharmaceutical stocks. The White House’s sweeping tariff regime, which includes a 40% tariff on goods transshipped to avoid duties, has raised concerns among investors about the potential impact on international trade and corporate profitability. This uncertainty contributed to a decline in European pharma stocks, as market participants reacted to the possibility of increased costs and regulatory hurdles.

In the tech sector, Amazon’s recent earnings report has overshadowed better-than-expected results with a gloomy forecast that has spooked investors. The company’s significant investments in artificial intelligence have yet to yield the anticipated results, leading to a cautious approach from market participants. Conversely, Nintendo has seen a surge in its stock, with shares rallying roughly 40% this year following the successful launch of its new Switch 2 console, which sold 5.8 million units in its latest quarter.

**Geopolitical Factors and Tariffs**

The renewed trade tensions initiated by Trump’s tariff announcements have drawn attention from various sectors, including luxury goods and automotive manufacturers. American yacht buyers and European shipyards are particularly concerned about the proposed 15% tariffs on European-made goods, prompting them to explore strategies to mitigate the financial impact. The uncertainty surrounding these tariffs is likely to weigh on market sentiment as companies brace for potential disruptions in supply chains and pricing strategies.

Moreover, Nvidia’s ongoing discussions with Beijing regarding its H20 AI chips highlight the complexities of international trade in the technology sector. The tech giant has faced scrutiny over potential national security risks associated with its exports to China, further complicating the landscape for investors as they navigate geopolitical tensions.

**Corporate Earnings and Strategic Moves**

Corporate earnings continue to play a critical role in shaping market dynamics. Apple reported its largest revenue growth since December 2021, with CEO Tim Cook emphasizing the company’s commitment to significantly increasing AI investments. This positive momentum provides Apple with leverage to clarify its strategic roadmap in the AI space, which investors are eagerly awaiting. The company’s robust performance may serve as a stabilizing force amid broader market volatility.

In contrast, Amazon’s mixed earnings report has drawn scrutiny, with analysts maintaining a buy rating despite the stock’s decline. Investors remain hopeful that the company’s long-term strategy in AI will eventually pay off, even as short-term concerns weigh heavily on sentiment. The upcoming jobs report is also under close watch, as traders anticipate a potential slowdown in hiring, which could further influence market direction.

**Current Market Overview**

Overall, the European market session is characterized by a blend of caution and opportunism as traders digest the implications of geopolitical developments and corporate earnings. The mixed performance of major indices reflects the uncertainty surrounding the economic landscape, with investors weighing the risks posed by tariffs against potential growth from leading firms like Apple and Nintendo. As the session unfolds, all eyes are on the impending jobs report, which could provide further insights into the health of the labor market and influence market sentiment in the coming days.

In summary, while the European markets are navigating through a challenging environment marked by geopolitical tensions and mixed earnings reports, the resilience of certain sectors, particularly technology, offers a glimmer of hope for investors seeking opportunities in this volatile landscape.

## Performances

### US Futures

The following table shows the latest price and daily performance of US futures.

**Note**:
– Prices are in USD.
– Daily Change (%) is calculated as (Close – Previous Close) / Previous Close * 100.
– ‘N/A’ indicates data not available.

### European and Asian Indices

The following table shows the latest closing price and daily performance of major European and Asian indices.

**Note**:
– Prices are in local currency or points.
– Daily Change (%) is calculated as (Close – Previous Close) / Previous Close * 100.
– ‘N/A’ indicates data not available.
– Nikkei 225 is closed during European session.

### FX Performance

The following table shows the latest exchange rate and daily performance of major currency pairs.

**Note**:
– Prices are the exchange rate (e.g., EUR/USD = USD per EUR).
– Daily Change (%) is calculated as (Close – Previous Close) / Previous Close * 100.
– ‘N/A’ indicates data not available.

### Commodities Performance

The following table shows the latest price and daily performance of major commodities.

**Note**:
– Prices are in USD per unit (e.g., per barrel for Crude Oil, per ounce for Gold).
– Daily Change (%) is calculated as (Close – Previous Close) / Previous Close * 100.
– ‘N/A’ indicates data not available.

### BTC and ETH Performance

The following table shows the latest price and daily performance of BTC and ETH.

**Note**:
– Prices are in USD.
– Daily Change (%) is calculated as (Close – Previous Close) / Previous Close * 100.
– ‘N/A’ indicates data not available.

## Economic Calendar of Today (Most Important Events)

The following table lists high-importance economic events for today, 2025-08-01, with times in US Eastern Time.

**Notes**:
– **Cur**: Currency associated with the event (with flag emoji).
– **Imp**: Importance (High, Medium, Low, None).
– **Actual**: Reported value (if available).
– **Forecast**: Expected value (if available).

Today, August 1, 2025, several high-importance economic events are set to influence financial markets, particularly during the ongoing European trading session.

At 5:00 AM (ET), the Eurozone’s Consumer Price Index (CPI) for July is anticipated to show a year-over-year increase of 1.9%. This figure is crucial as it reflects inflationary pressures within the euro area, potentially impacting the European Central Bank’s monetary policy stance.

The U.S. labor market will be in focus at 8:30 AM (ET) with the release of several key indicators. Average Hourly Earnings for July are expected to rise by 0.3%, while Nonfarm Payrolls are forecasted to add 106,000 jobs. The Unemployment Rate is projected to hold steady at 4.2%. These metrics are vital for assessing the health of the labor market and will likely influence Federal Reserve policy discussions, especially regarding interest rates.

Subsequently, at 9:45 AM (ET), the S&P Global Manufacturing PMI and the ISM Manufacturing PMI for July are both expected to come in at 49.5. A reading below 50 indicates contraction in the manufacturing sector, which could raise concerns about economic growth. Additionally, the ISM Manufacturing Prices index is forecasted at 69.9, suggesting continued inflationary pressures in manufacturing inputs.

The results of these reports could lead to significant market volatility, particularly in the forex and equity markets, as traders reassess their positions based on the actual outcomes versus expectations.

## Remaining Economic Calendar Comment for the Week (Important Events Only)

For the week of August 2, 2025, several key economic indicators are scheduled to be released, which are expected to influence financial markets significantly.

On August 2, at 9:45 AM ET, the S&P Global Services PMI for July is anticipated to come in at 55.2. This figure is closely watched as it provides insights into the health of the services sector, which is a major component of the U.S. economy. A reading above 50 typically indicates expansion, and a stronger-than-expected result could bolster investor confidence, potentially leading to a rally in equity markets.

Shortly thereafter, at 10:00 AM ET, the ISM Non-Manufacturing PMI will be released, along with the ISM Non-Manufacturing Prices index. While forecasts for these indicators have not been provided, they are expected to offer further clarity on service sector activity and inflationary pressures. Any surprises in these readings, particularly if they deviate significantly from historical trends, could lead to volatility in both equity and bond markets as investors reassess their expectations for future rate hikes by the Federal Reserve.

Additionally, at 10:30 AM ET, the Crude Oil Inventories report will be published. Given the ongoing global energy dynamics, this data is crucial for understanding supply and demand trends in the oil market, which can impact energy stocks and overall market sentiment.

As the European market session is actively open, traders will be keenly watching these upcoming releases for their potential market impacts, especially in light of current economic conditions and inflation concerns.