European stock markets rose slightly on Monday. Investors are focused on important economic data this week and a possible U.S. government shutdown. The Stoxx 600 index went up 0.3 percent. Germany’s Dax rose 0.2 percent, France’s CAC 40 gained 0.1 percent, and the U.K.’s FTSE 100 increased about 0.2 percent.
In the U.K., GSK shares jumped more than 2 percent after its CEO announced she will step down. AstraZeneca also rose after saying it will keep its London headquarters and list its shares directly on the New York Stock Exchange. Technology and industrial goods sectors performed well too.
Investors are watching the U.S. jobs report for September, coming Friday. Economists expect 51,000 new jobs, up from 22,000 in August, with unemployment staying at 4.3 percent. The Federal Reserve is watching jobs closely. They cut interest rates earlier this month to support hiring, and more cuts may come before the end of the year. Strong job numbers, however, could slow the pace of future cuts.
A government shutdown could delay the report. Congress must pass a short-term funding bill by Tuesday. Republicans control both chambers, but Democratic support is needed. Democrats want the bill to restore health care funding. Leaders from both parties are meeting President Trump to discuss it.
Gold prices hit a record above $3,800 an ounce. Investors bought gold as a safe haven because of the shutdown risk and expectations of lower U.S. interest rates. By late morning, spot gold was $3,832 per ounce, and futures were $3,861.
Oil prices fell. Iraq’s Kurdistan restarted exports, and OPEC+ plans another production increase in November. Brent crude fell to $66.97 a barrel, and West Texas Intermediate dropped to $63.29.
