Stocks have had a lacklustre open to the week. Investors are weighing Friday’s stronger-than-expected US jobs data and disappointing Chinese trade data released over the weekend which showed both imports and exports rose less than expected in July.
In the US, the forecast was for 845,000 jobs to be added to the economy in July – Friday’s data showed 943,000, sparking concerns that the Fed may begin tapering earlier than expected. The market responded well though, closing near the highs of the week. Focus this week will be on the release of important US inflation data; with CPI on Wednesday and the producer price index on Thursday.