LONDON (AP) — Global stock markets traded higher Friday ahead of key U.S. jobs data that could determine the pace at which the Federal Reserve raises interest rates this year.
KEEPING SCORE: In Europe, France’s CAC 40 was up 0.9 percent at 5,133 while Germany’s DAX advanced 0.9 percent to 12,167. Britain’s FTSE 100 rose 0.3 percent to 7,454. U.S. shares were also set for a solid opening with Dow futures and the broader S&P 500 futures up 0.3 percent.
US JOBS FOCUS: How Wall Street actually opens could well hinge on the August nonfarm payrolls report for August which is released an hour before the bell. The figures often set the market tone for a week or two after their release. Upbeat figures Thursday from private payrolls firm ADP has ratcheted up expectations for the official government data. The consensus in the markets is that payrolls increased by around 180,000 during the month.
ANALYST TAKE: “It’s all about whether this print is strong enough to get the market talking up another hike this year, which is currently a 1-in-3 chance,” said Neil Wilson, senior market analyst at ETX Capital.
DOLLAR: The dollar is likely to be at the forefront of any shift if Fed rate hike expectations. Ahead of the figures, trading was fairly flat, with the euro up 0.1 percent at $1.919 and the dollar 0.1 percent firmer at 110.14 yen.
ASIA’S DAY: Japan’s benchmark Nikkei 225 edged up 0.2 percent to finish at 19,691.47, while Australia’s S&P/ASX 200 added nearly 0.2 percent to 5,724.60. South Korea’s Kospi lost 0.2 percent to 2,357.69. Hong Kong’s Hang Seng was little changed at 27,969.38. The Shanghai Composite rose 0.2 percent to 3,367.12.
ENERGY: Benchmark U.S. crude slipped 8 cents to $47.15 a barrel, while Brent crude, used to price international oils, rose a cent to $52.87 a barrel in London.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.