Europe stocks gain, Asia mixed as data, China target awaited
Source: AP-Excite
By JOE McDONALD
BEIJING (AP) — European stocks gained while Asian markets faltered Wednesday as investors looked ahead to U.S. economic data and China's announcement of its annual growth target.
KEEPING SCORE: In early trading, France's CAC-40 added 0.5 percent to 4,893.52 points and Germany's DAX gained 0.3 percent to 11,314.80. Britain's FTSE 100 rose 0.1 percent to 6,899.09. Wall Street looked set for further declines. Futures for the Dow Jones industrial average and the Standard & Poor's 500 down 0.1 percent.
U.S. OUTLOOK: Investors were looking ahead to Wednesday's release of data on employment by ADP, a payroll processing company, and manufacturing data from the Institute for Supply Management. Those provide hints for the Labor Department's release of monthly jobs data Friday; the report is an important influence on the Federal Reserve's monetary policy decisions and scrutinized by financial markets.
CHINA TARGET: China's Premier Li Keqiang is expected to lower this year's official growth target to 7 percent from last year's 7.5 percent when he makes an annual appearance before the national legislature Thursday to announce government economic plans. The lower target after a decade of double-digit expansion is part of the ruling Communist Party's marathon effort to reduce China's reliance on trade and investment and nurture more self-sustaining growth based on domestic consumption and service industries.
FULL story at link.
Passersby wait to cross a street in front of Japan's Nikkei stock index displayed on an electronic board in Tokyo, Wednesday, March 4, 2015. Asian stock markets were mostly lower Wednesday after Wall Street declined and investors looked ahead to U.S. economic data and China's announcement of its annual growth target. (AP Photo/Shuji Kajiyama)
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