Despite a disappointing Eurozone PMI report for December, the major European stock indices advanced on Friday. Most major European stock indices advanced on Friday, despite a disappointing December Eurozone PMI report from Markit Economics (NYSEARCA:VGK).  Markit’s Final Eurozone Composite Output Index  for December declined to 47.2 from the flash estimate of 47.3 and November’s 46.5.  However, the Final Eurozone Services Business Activity Index for December advanced to 47.8 from November’s 46.7. The Markit/CIPS UK Services PMI dropped to 48.9 in December from November’s 50.2 (NYSEARCA:EWU). In Germany, Destatis reported that the nation’s retail sales increased by 1.2 percent in November on a month-over-month basis.  Economists had been expecting a more modest advance of 0.8 percent (NYSEARCA:EWG). As of 11:18 EST, the Euro STOXX 50 Index advanced 0.12 percent to 2,704 – staying well above its 50-day moving average of 2,564.  The STOXX 50 is holding above its March 19 high of 2,608.  Its Relative Strength Index is now 69.44 – just below the crucial number 70 – which is considered by many as a signal that the market is overbought (NYSEARCA:FEZ).  The FTSE 100 Index climbed 0.54 percent to 6,079 NYSEARCA:EWU).  The German DAX Index rose 0.11 percent to 7,764 (NYSEARCA:EWG).  France’s CAC 40 Index dipped 0.02 percent to 3,720 (NYSEARCA:EWQ).  Spain’s IBEX 35 Index climbed 0.16 percent to 8,416 (NYSEARCA:EWP).  Italy’s FTSE MIB Index advanced 0.10 percent to 16,927 (NYSEARCA:EWI).   Global ETFs for The January Effect As of 11:23 EST, the euro declined 0.092 percent against the dollar, trading at $1.3037 (NYSEARCA:FXE). Spain’s ten-year bond yield rose to 5.05 percent on Friday from Thursday’s closing level of 5.00 percent.  Spain’s two-year bond yield dropped to 2.42 percent on Friday from Thursday’s closing level of 2.48 percent (NYSEARCA:EWP). Italy’s ten-year bond yield rose to 4.29 percent on Friday from Thursday’s closing level of 4.25 percent (NYSEARCA:EWI). On London’s ICE Futures Europe Exchange, February futures for Brent crude oil declined by 92 cents (0.82 percent) to $111.22/bbl. (NYSEARCA:BNO, NYSEARCA:USO). February Gold futures declined by $34.00 (2.03 percent) to $1,640.60 per ounce (NYSEARCA:GLD).   Gold ETFs Decline with Equities Over Fed Minutes In China, the Shanghai Stock Exchange opened for its first trading day of the year.  The Shanghai Composite Index advanced 0.35 percent to 2,276 after the December HSBC China Composite Output Index advanced to 51.8 from November’s 51.6 (NYSEARCA:FXI).  Hong Kong’s Hang Seng Index declined 0.29 percent to 23,331 after the December HSBC Hong Kong PMI declined to 51.7 from November’s 52.2 (NYSEARCA:EWH). In Japan, stocks skyrocketed when the Tokyo Stock Exchange re-opened after the four-day holiday, during which time the yen sank nearly 2.5 percent (NYSEARCA:FXY).  The Nikkei 225 Stock Average soared 2.82 percent to 10,688 (NYSEARCA:EWJ). American stock index futures were in positive territory ahead of Friday’s opening bell in anticipation of an upbeat non-farm payrolls report following Thursday’s positive ADP National Employment Report.  The March 13 Dow Jones Industrials future advanced 0.11 percent to 13,334 as of 9:14 EST.  The March 13 S&P 500 future climbed 0.24 percent to 1,457 (NYSEARCA:SPY).  The March 13 Nasdaq 100 future rose 0.16 percent to 2,729. Bottom line:  Despite disappointing Eurozone PMI data, most major European stock indices managed to advance on Friday. Sign up for Wall Street Sector Selector’s FREE Stock Market Timing Indicator!    Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer , Terms of Service , and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.