World Stocks Down Ahead of US Jobs Data05/06 06:08
Global markets were mostly lower in nervous trading Friday ahead of a
closely watched U.S. jobs-report that may influence interest rate decisions and
the value of the U.S. dollar.
TOKYO (AP) -- Global markets were mostly lower in nervous trading Friday
ahead of a closely watched U.S. jobs-report that may influence interest rate
decisions and the value of the U.S. dollar.
KEEPING SCORE: France's CAC 40 fell 0.7 percent to 4,291.21 in early
trading, and Germany's DAX lost 0.5 percent to 9,807.78. Britain's FTSE 100
edged 0.4 percent lower to 6,092.90. U.S. shares were set to drift lower with
Dow futures inching down 0.01 percent to 17,563 and S&P 500 futures also lower
by 0.04 percent at 2,043.
U.S. JOBS: Markets are focusing on the U.S. jobs report for April, due out
later in the day. Investors are watching to see if it might affect the Federal
Reserve's plans for raising interest rates at its next policy meeting in June.
Economists expect the report to show jobs grew by 200,000 last month while the
unemployment rate stayed at 5 percent.
THE QUOTE: "The key theme this week has been that the U.S. dollar managed to
hold on to its gains across major currencies," said Alex Wijaya, senior sales
trader & institutional sales at CMC Markets Singapore. "The biggest question is
how the U.S. dollar will perform tonight in light of the U.S. non-farm payrolls
ASIA'S DAY: Japan's benchmark Nikkei 225 lost 0.3 percent to 16,106.72 as
Tokyo resumed trading after the three-day "Golden Week" national holidays.
Australia's S&P/ASX 200 edged 0.2 percent higher to 5,292.00, while Hong Kong's
Hang Seng index slipped 1.7 percent to 20,109.87. The Shanghai Composite sank
2.8 percent to 2,913.25. Markets were closed in South Korea for a national
ENERGY: Benchmark U.S. crude oil lost 27 cents to $44.06 a barrel in
electronic trading on the New York Mercantile Exchange. It gained 54 cents on
Thursday to $44.32 a barrel. Brent crude, used to price international oils, was
down 18 cents at $44.83 a barrel in London.
CURRENCIES: The euro fell to $1.1426 from $1.1490 and the dollar fell to
106.92 yen from 107.10 yen.