FTSE 100 leads European stock rebound ahead of ISM report

Since what was a pretty negative start to the European equity market trading session today, the major bourses have rebounded. That rebound has perhaps been surprisingly led by the FTSE 100. That has now risen back above its 50 day moving averages, which was something it struggled to do earlier. That 50 day moving average is in place right now at 7,628. The index has now lifted close to the 7,650 and the rebound comes as the DAX also reclaims the 17,700 mark. The US futures are still in the red though, as the markets wait to see what the ISM service sector report has to offer later this afternoon (3pm GMT). In regards to that, the markets expect a reading of 53, down from 53.4. The prices paid component is forecast to fall slightly too, from 64 to 62. I do not have any forecasts available for employment or new orders, but they were last at 50.5 and 55 respectively. Meantime, the FTSE 100 is currently trading at 7,642