Global stocks subdued ahead of US jobs report
TOKYO: Global shares were subdued Friday ahead of a US jobs report that's likely to influence whether the Federal Reserve raises interest rates in December.
KEEPING SCORE: France's CAC 40 slipped 0.5 percent to 4,957.87 in early trading and Germany's DAX was down 0.3 percent to 10,859.21. Britain's FTSE 100 was little changed, down 0.03 percent at 6,363.25. US shares were set to drift lower. S&P 500 futures were down 0.1 percent at 2.092,90 and Dow futures fell 0.1 percent to 17,783.00.
JOBS REPORT: Analysts are forecasting that US employers added 185,000 jobs and the unemployment rate held steady at 5.1 percent in October. A solid report would suggest the world's biggest economy is shrugging off slower growth overseas and will likely give the Fed confidence to raise short-term interest rates in December. Interest rates have been at record lows since the 2008 financial crisis. Testifying before a committee of the US Congress on Wednesday, Fed Chair Janet Yellen described the US economy as "performing well" and said an interest rate hike in December was a "live possibility."
THE QUOTE: "US jobs report is the key event risk today. Non-farm payroll, along with unemployment rate and wages, will get special attention," said Cynthia Jane Kalasopatan at Mizuho Bank in Singapore in a report.
ASIA'S DAY: Japan's benchmark Nikkei 225 added 0.8 percent to 19,265.60 while South Korea's Kospi inched fell 0.4 percent to 2,041.07. Hong Kong's Hang Seng dropped 0.8 percent at 22,867.33. But the Shanghai Composite in mainland China jumped 1.9 percent to 3,590.03. Other regional markets were mixed, rising in Australia and Thailand and falling in Taiwan and Singapore.
ENERGY: In energy markets, US crude oil added 27 cents to $45.47 a barrel in electronic trading in New York. Brent crude, which is a benchmark for international oils, rose 8 cents to $48.06 a barrel in London.
CURRENCIES: The US dollar was trading at 121.88 yen, up from 121.49 yen on Thursday. The euro slipped to $1.0878 from $1.0885.