Stock market today: Global markets up ahead of U.S. jobs data
CTV
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.
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.
The U.S. government was due to report April employment data that are expected to show a slowdown in job growth. Investors hope more signs the economy is weakening might prompt the Federal Reserve to call off possible additional rate hikes to cool inflation.
"We estimate a slowdown in net job growth and tick up in the unemployment rate," said Rubeela Farooqi of High Frequency Economics in a report.
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.
On Wall Street, the future for the benchmark S&P 500 index was up 0.3%. That for the Dow Jones Industrial Average rose 0.1%.
On Thursday, the S&P 500 index lost 0.7% as investors worried about the health of banks following three high-profile failures in the United States and one in Switzerland. The Dow dropped 0.9% and the Nasdaq fell 0.5%.