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Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data

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Asian shares turned lower and the dollar regained some of its footing, as disappointing earnings from U.S. tech giants undermined sentiment ahead of a key U.S. non-farm payrolls report. | Reuters

S&P 500 futures slid 0.5 percent and Nasdaq futures fell 1.4 percent on Friday, .

Apple projected another revenue decline in the start of the year, Amazon warned that its operating profit could fall to zero in the current quarter, and Google parent Alphabet missed expectations in its fourth-quarter profit and revenue. “The wash-up is that the BoE meeting was dovish, and the ECB is now firmly open-minded and data-dependent, and the Fed chose not to fight the market and the market feels validated by that,” said Chris Weston, head of research at Pepperstone.

Analysts expect 185,000 jobs were added last month, the lowest since January 2021, unemployment edged up to 3.6%, and hourly wage inflation to stay flat at 0.3 percent on a monthly basis, suggesting the strong labour market might have started to ease up. The sterling fell to $1.2206 on Friday, the lowest in more than two weeks, after tumbling 1.2 percent the previous session.

 

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