Eurostoxx +0.4%Germany DAX +0.4%France CAC 40 +0.4%UK FTSE +0.2%Spain IBEX +0.1%Italy FTSE MIB +0.1%European equities are starting the day on a slightly firmer footing, although I wouldn't read too much into the early gains just yet.We're seeing gains across the board with German and French benchmark indices leading the way for now. And this comes as some of the pressure in the bond market eases following the sharp selloff earlier this week.10-year Treasury yields have backed away from the high yesterday of 5.34%, hovering closer to 5.25% now. In Europe, we're also seeing 10-year German bund yields easing to 3.48% today - well off Monday's high of around 3.65%. That is offering some breathing room for stocks, although yields remain at levels that continue to pose a headwind for risk sentiment.Meanwhile, US futures are pointing modestly higher ahead of the open following the more volatile trading session yesterday. S&P 500 futures are up 0.3% and Nasdaq futures up 0.4% but the bigger test is still to come with the US jobs report later today.Markets are looking for non-farm payrolls to rise by around 90K in September, with the unemployment rate expected to hold at 4.1%. But it is perhaps wages that investors need to be paying more attention to.The risk now is that a hotter wage print alongside resilient payrolls could quickly revive the argument for another Fed rate hike and threaten another breakout in yields. And that could bite at risk sentiment and hurt equities in the aftermath of the report before the weekend comes along.So while this is a better start for European stocks, just be wary that yields are still elevated and NFP is still to come. That makes the early relief feel fairly tentative at best. This article was written by Justin Low at investinglive.com.