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Stock market today: Global markets advance in subdued trading on US jobs worries

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Global shares have mostly gained in cautious trading ahead of an update on the U.S. jobs market.

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 6, 2023. Asian shares mostly rose in cautious trading Friday after Wall Street drifted to a quiet close on worries about a too-hot U.S. job. – Global shares mostly rose Friday in cautious trading ahead of an update on the U.S. jobs market.

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. 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.

A recent pullback in the price of oil has offered some relief on the inflation front for both U.S. households and the Federal Reserve.

 

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