The United States markets edged higher this week, helped by Friday’s quadruple witching, and despite a brief sell-off mid-week due to weak economic data. In the U.S., jobless claims unexpectedly rose to 382,000, while manufacturing in the Philadelphia region shrank for the fifth straight month in September. Looking ahead, a composite reading of U.S. leading indicators also showed a 0.1% downturn, which was worse than economist expectations of an even (0%) reading.

In the eurozone, manufacturing and services data came in weaker than expected. Markit’s Purchasing Managers’ Index (PMI), a gauge of business activity, fell to 45.9 in September, which was the lowest rating in over three years. Analysts believe that the region’s economy is shrinking at a faster rate than the 0.2% quarterly decline seen during the second quarter of this year. While many traders are watching for an ECB rate cut ...