Investors are looking for any positive signs for the Chinese markets and Eurozone's largest economy in trouble.

A look ahead at the final day of the first week in November.

Investors are looking for any good signs to revive the hammered down Hong Kong and China stocks. Today, there might be something positive that will provide the boost.

Renewed assumptions over a forthcoming relaxation of Covid curbs, as well as reports that the initial US inspection of Chinese company audits was ahead of schedule, lifted some of the hopes. Especially after the hawkish comments from Jerome Powell that wobbled the markets.

Rumours circulating earlier in the week about an unverified social media note that China was planning on going back to normal in March, led to quick rally. However, the rumour was quickly shot down but investors keep hopes high even as the Covid-19 cases in China rise.

Nevertheless, the Hang Seng index gained around 6% while Shanghai Shenzhen CSI 300 gained 3.2%, both ahead of US jobs report.  

The US payrolls report is due at 12:30 GMT in today’s session and is estimated to show that nonfarm payrolls have increased by 200,000 jobs in October. An upside could force the Fed for another hike in December. Additionally, the US unemployment rate is also due at 12:30 GMT, expected to come in at 3.6% versus 3.5% in the previous reading.

Over in the UK, the pound was up 0.54% in early hours of trading, regaining some of its losses from a 2% knock after the Bank of England announced that the rates could go up by less than markets have priced in.

Other parts of Europe, German factory orders fell sharply by 4% on the month in September as Europe’s largest economy struggles with challenging energy prices.

Eurozone October manufacturing and services activity data is also due today at 9:00 GMT.

In corporate news, Twitter has announced that it will inform its employees by email on whether they have been laid off. According to Reuters, offices have been closed temporarily and staff access is denied.

Earnings: Hershey Co, Alibaba, Duke Energy and Ricoh.