European stocks dip...

Our markets were closed today because of the Fourth of July holiday, but over seas where Independence Day is not celebrated, it appears there was little to celebrate when it comes to the European stock market. According to the Wall Street Journal - (link):

The pan-European Stoxx 600 index ended down 0.2% at 236.68. The U.K.'s FTSE 100 closed down 0.3% at 4823.53, Germany's DAX declined 0.3% to 5816.20 and France's CAC-40 closed 0.5% lower at 3332.46.

The lackluster session came after Friday's U.S. nonfarm employment report for June showed a decline of 125,000 jobs, though this was not as bad as some had feared. But Friday's data pointed to a weaker outlook for the world's largest economy and even opened debate about whether or not more extraordinary measures will be required to get the U.S. economy moving on a sustained growth path.

"With increasing concern about a looming slowdown in the world economy, investors' fears have coalesced and worries are appearing that the slowdown will lead to a `double dip' and possible renewed recession," said David Shairp, global strategist at JPMorgan Asset Management. Shairp, however, thinks these fears are misplaced and that a double-dip is unlikely.

Meanwhile, the session's economic data did little to lift sentiment. The U.K. services purchasing managers' index posted a drop in June to a 10-month low, coming in below consensus forecasts. The final June euro-zone PMI figures came broadly in line with the flash figures released earlier in June and continued to signal a slowdown.

The economic agenda remains rather quiet until Thursday, when the European Central Bank and Bank of England have policy meetings. On Tuesday, markets will closely watch how Wall Street opens after the long weekend break. U.S. Institute for Supply Management nonmanufacturing data will also be in focus at 1400 GMT.