Stock market today: Global markets up ahead of U.S. jobs data

📆 05/05/2023 13:45:00
📰 CTVNews

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Global stock markets were mostly higher Friday ahead of a U.S. jobs update amid worries about the health of banks under pressure from interest rate hikes.

London, Frankfurt, Hong Kong and Wall Street futures advanced. Shanghai declined. Markets in Japan and South Korea were closed for holidays. Oil prices advanced.

In early trading, the FTSE 100 in London rose 0.4% to 7,733.23. The DAX in Frankfurt gained 0.3% to 15,785.07 and the CAC 40 in Paris added 0.4% to 7,368.51. Shares of PacWest Bancorp, a target of investor scrutiny, tumbled 50.6%. The bank said it was considering options and has been approached by potential partners and investors.

On Wednesday, the Fed raised its key overnight rate to a range of 5% to 5.25% from close to zero early last year. A report Thursday showed the number of U.S. workers filing for unemployment last week accelerated a bit more than expected.

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