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