Global stocks soft after weaker US jobs report – U.S. News & World Report

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The Associated Press

LONDON (AP) — Global stocks fell Friday after the U.S. jobs report showed hiring fell in April to its slowest pace in seven months — a sign of weaker growth that could delay the Federal Reserve’s next interest rate hike.

KEEPING SCORE: France’s CAC 40 fell 1.6 percent to 4,251, and Germany’s DAX lost 1 percent to 9,754. Britain’s FTSE 100 was 0.9 percent lower to 6,063. U.S. shares were set to drift lower with Dow futures down 0.6 percent and S&P 500 futures down 0.6 percent.

U.S. JOBS: The monthly U.S. jobs report showed the world’s largest economy added 160,000 jobs in April, below the average increase of 200,000 over the past three months. The slower pace may raise uncertainty over the economy’s growth, though wages showed signs of picking up. Overall, the data suggests the Fed may be marginally less likely to raise its interest rates again next month.

THE QUOTE: “Today’s U.S. jobs report was a bit of a mixed bag,” said Craig Erlam, senior market analyst at Oanda. “Of course we can often see a lot of volatility in the immediate aftermath of the data and only once the dust has settled do we see what investors really think of the numbers.”

ASIA’S DAY: Earlier, Japan’s benchmark Nikkei 225 lost 0.3 percent to close at 16,106.72 as Tokyo resumed trading after the three-day “Golden Week” national holidays. Australia’s S&P/ASX 200 edged 0.2 percent higher to 5,292.00, while Hong Kong’s Hang Seng index slipped 1.7 percent to 20,109.87. The Shanghai Composite sank 2.8 percent to 2,913.25. Markets were closed in South Korea for a national holiday.

ENERGY: Benchmark U.S. crude oil lost 45 cents to $43.87 a barrel in electronic trading on the New York Mercantile Exchange. It gained 54 cents on Thursday. Brent crude, used to price international oils, was down 75 cents at $44.26 a barrel in London.

CURRENCIES: The euro fell to $1.1440 from $1.1490 and the dollar declined to 106.52 yen from 107.10 yen.

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