Global stocks rose Friday as investors awaited a U.S. jobs report for clues on whether the U.S. Federal Reserve might raise interest rates already this month.
KEEPING SCORE: France’s CAC 40 added 0.5 percent to 4,489, while Germany’s DAX added 0.6 percent to 10,273. Britain’s FTSE 100 gained 1.0 percent to 6,244. U.S. shares were set for slight gains, with Dow and S&P 500 futures inching up 0.1 percent.
US ECONOMY: Investors are waiting for the monthly U.S. jobs report for clues about the health of the world’s largest economy. Analysts expect an increase in hiring of 160,000 for a second straight month. That would be a solid gain, though below the average of 232,000 of the past year. The number could influence whether the Federal Reserve will raise its key interest rate already at its next meeting this month or in coming months.
ANALYST TAKE: “The market has now moved to a stage where it considers significantly more likely than not that a Fed rate hike will take place over the next few months; so we believe that a labor market reading close to consensus will do little to change these odds,” wrote analysts at UniCredit Research in a note to clients.
ASIA’S DAY: Japan’s benchmark Nikkei 225 added 0.5 percent to 16,642.23. South Korea’s Kospi inched up 0.04 percent to 1,985.84. Hong Kong’s Hang Seng added 0.4 percent to 20,947.24, while the Shanghai Composite gained 0.5 percent to 2,938.68. The S&P/ASX 200 of Australia jumped 0.8 percent to 5,318.90.
ENERGY: Benchmark U.S. crude oil was down 8 cents to $49.09 a barrel in electronic trading on the New York Mercantile Exchange. It rose 16 cents on Thursday, as traders digested OPEC’s failure to agree on a production target or limit. Brent crude, which is used to price international oils, fell 4 cents to $50.00 a barrel in London.
CURRENCIES: The dollar inched down 108.87 yen from 108.95 yen. The euro fell slightly to $1.1142 from $1.1210.
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