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European stocks rose on Friday, halting five straight days of declines, ahead of U.S. jobs data that could offer clues to how far the Federal Reserve will raise interest rates.

The regional Stoxx Europe 600 gauge added 0.5% in early trades, after closing down 1.8% on Thursday. London’s FTSE 100 edged up 0.2%. In Asian markets, Hong Kong’s Hang Seng fell 0.8%, paring earlier losses, while Japan’s Topix fell 0.3%.

The moves came at the end of a dismal week for global stocks, which were on track for their worst week since mid-June. Hawkish rhetoric from Federal Reserve Chairman Jay Powell at last week’s Jackson Hole economic symposium set the tone for higher borrowing costs to come, stoking concerns that rate regulators around the world are inducing a deep recession as they tighten monetary policy to curb inflation.

On Friday, market participants were bracing for monthly nonfarm payrolls figures. Economists polled by Reuters had expected U.S. employers to add 300,000 new jobs in August, down from the 528,000 added in July. A higher-than-expected number, signaling a boiling labor market, could cause investors to raise their estimates of where the Fed will raise rates.

“Today we believe that a report on decent jobs in the United States (we expect 250,000) could be enough to cement [0.75 percentage point] September raises expectations and keeps bullish sentiment on the dollar,” ING analysts said.

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