Stock market today: Global markets advance in subdued trading on US jobs worries
TOKYO (AP) — Global shares mostly rose Friday in cautious trading ahead of an update on the U.S. jobs market.
Tokyo was the only major market to decline, with other benchmarks moderately higher. U.S. futures and oil prices were little changed.
Markets in China were closed for a holiday. They will reopen on Monday.
Investors were awaiting a potentially impactful and comprehensive report on U.S. employment later in the day.
France's CAC 40 added 0.3% to 7,020.18 in early trading, while Germany's DAX rose 0.5% to 15,143.44. Britain's FTSE 100 edged up 0.2% to 7,468.90. The futures for the Dow and S&P 500 were virtually unchanged.
In Asian trading, Japan's benchmark Nikkei 225 fell 0.3% to finish at 30,994.67. Australia's S&P/ASX 200 rose 0.4% to 6,954.20. South Korea's Kospi edged up 0.2% to 2,408.73. Hong Kong's Hang Seng jumped 1.6% to 17,485.98.
Shares in Hong Kong jumped on strong buying of property and technology stocks that have seen sharp losses in recent trading sessions. However, troubled property developer China Evergrande's shares were down 1.6%.
A comprehensive report on U.S. employment is due Friday. Economists expect it to show hiring slowed to a pace of 163,000 jobs added in September from 187,000 in August.
Investors worry that too strong a U.S. job market could add to upward pressure on inflation. That’s why the Fed has raised its main interest rate to the highest level since 2001, to intentionally slow the economy.
“The sentiment of unease prevails as the market awaits the release of the U.S. employment report later today,” said Anderson Alves at ActivTrades.
Market attention also remains on oil prices, which have fluctuated recently and will have major effects on how central banks act on interest rates.
A recent pullback in the price of oil...