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Tuesday, October 27, 2020
Banking Global shares rise as U.S. jobs report stokes low rate hopes

Global shares rise as U.S. jobs report stokes low rate hopes

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TOKYO (AP) — Global stocks rose Monday after a U.S. jobs report raised hopes the Federal Reserve will bide its time before raising interest rates. A stronger dollar helped push Japan’s benchmark higher.

KEEPING SCORE: France’s CAC 40 edged up 0.2 percent to 4,548.90 while Germany’s DAX added 0.4 percent to 10,726.12. Britain’s FTSE 100 inched up 0.03 percent to 6,896.40. U.S. shares were also set to drift higher with Dow futures rising 0.3 percent to 18,509. S&P 500 futures also rose 0.2 percent to 2,181.40.

ASIA’S DAY: Japan’s Nikkei 225 added 0.7 percent to finish at 17,037.63. South Korea’s Kospi gained 1.1 percent to 2,060.08. Hong Kong’s Hang Seng rose 1.7 percent to 23,668.40, while the Shanghai Composite edged up nearly 0.2 percent to 3,072.10. Australia’s S&P/ASX 200 climbed 1.1 percent to 5,429.60.

U.S. JOBS: Job gains slowed in most major industries in August and wages rose only slightly. The long streak of job growth has been inconsistent over the last few months. The Federal Reserve raised interest rates slightly in December and wants to gradually bring them back closer to where they were before the financial crisis of 2008. But most investors didn’t expect rates to rise this month, and the jobs report appeared to confirm that.

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