European stocks may drift lower at open on Friday as investors weigh escalating U.S.-Iran tensions and brace for the release of the April U.S. jobs report later in the day for directional cues.
Brent crude futures jumped toward $102 a barrel as fresh U.S.-Iran clashes in the Strait of Hormuz jolted hopes for a deal to end the 10-week conflict and reopen the crucial waterway.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.