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Global Markets Rise on Friday as U.S. Job Market Weakens

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Global markets rose on Friday after U.S. jobs data showed signs of slower growth, raising hopes that the Federal Reserve may be nearing the end of its rate-hiking cycle.

The MSCI World Index rose 1.18 percent, marking its biggest one-week percentage gain since November 2022 . European stocks ended mixed, with the pan-European STOXX 600 up 0.17%. Asian markets were broadly higher, with Japan’s Nikkei 225 up 1.10% and Hong Kong’s Hang Seng up 2.52%.

Global Markets Rise on Friday as U.S. Job Market Weakens

U.S. stocks closed higher, with the Dow Jones Industrial Average up 0.66%, the S&P 500 up 0.94% and the Nasdaq Composite up 1.38%. The S&P 500 and the Nasdaq posted their biggest one-week gains since November 2022.

On Friday, the U.S. dollar fell to a six-week low and the yield on the benchmark 10-year U.S. Treasury note fell to a five-week low. Crude oil prices closed more than 2% lower as the geopolitical risk premium waned.

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