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

📆 06/10/2023 10:38:00
📰 YahooFinanceCA

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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 D

TOKYO — 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. After surging from $70 in the summer to more than $93 last week, the price of a barrel of benchmark U.S. crude has slumped sharply. Brent crude, the international standard, gained 18 cents to $84.25 per barrel.

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