A gauge of stock markets worldwide rose to new two-month highs on Friday, on pace for a fourth day of gains, as oil and other commodity prices firmed and strong U.S. jobs growth bolstered confidence in the global economy.
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A gauge of stock markets worldwide rose to new two-month highs on Friday, on pace for a fourth day of gains, as oil and other commodity prices firmed and strong U.S. jobs growth bolstered confidence in the global economy.
U.S. equity indexes touched their highest since Jan. 6 after February’s jobs data, which showed strong growth in payrolls and an increase in labor-force participation, but a surprising decline in monthly wage growth.
Nonfarm payrolls grew by 242,000 jobs last month, beating forecasts for 190,000 new jobs, but wages dipped by 0.1 per cent after a strong January 0.5-per-cent increase.
U.S. benchmark Treasuries saw yields rise to their highest in a month, led by longer-dated securities.
The numbers looked strong enough to “scotch suggestions that the U.S. is about to tip into recession,” said Luke Bartholomew, investment manager at Aberdeen Asset Management.
