US jobs data continue to give stocks a lift

People stand in front of an electronic stock board of a securities firm in Tokyo, Monday, March 12, 2018. Asian stocks rose Monday despite U.S.-Chinese trade tension following solid Wall Street gains on strong U.S. employment data. (AP Photo/Koji Sasahara)
People walk by an electronic stock board of a securities firm in Tokyo, Monday, March 12, 2018. Asian stocks rose Monday despite U.S.-Chinese trade tension following solid Wall Street gains on strong U.S. employment data. (AP Photo/Koji Sasahara)

LONDON — Global stocks remained buoyant Monday following strong U.S. jobs data that eased concerns about the pace of wage increases. Ongoing concerns over a possible global trade war kept sentiment in check though.

KEEPING SCORE: In Europe, Germany's DAX rose 0.4 percent to 12,389 while France's CAC 40 added 0.1 percent to 5,277. London's FTSE 100 fell 0.1 percent to 7,208. U.S. stocks are set for a solid opening with Dow futures and the broader S&P 500 futures headed for gains of 0.2 percent.

US ECONOMY: Stocks remain buoyed by figures last Friday showing stronger than forecast job creation in February and weaker than expected wage increases. That helped to dampen inflation concerns that triggered the market's swoon a month back.

ANALYST TAKE: "Though it's beginning to wane, the main driver of trading this morning continued to be last Friday's pitch-perfect non-farm jobs report out of the U.S.," said Connor Campbell, financial analyst at Spreadex.

TRADE WAR?: Keeping gains in check are fears over a possible trade war following last week's decision by U.S. President Donald Trump to slap import duties on steel and aluminum. China's commerce minister, Zhong Shan, said Beijing wants to resolve disputes with Washington through negotiations but vowed to defend Chinese interests.

NORTH KOREA: U.S. officials said there will be no more conditions imposed on North Korea before a possible meeting of the two nations' leaders beyond the North's promise not to resume nuclear testing and missile flights or publicly criticize U.S.-South Korean military exercises.

ASIA'S DAY: The Shanghai Composite Index rose 0.6 percent to 3,326.70 and Tokyo's Nikkei 225 added 1.6 percent to 21,824.03. Hong Kong's Hang Seng jumped 1.9 percent to 31,585.00 and Sydney's S&P-ASX 200 gained 0.6 percent to 5,996.10. Seoul's Kospi rose 1 percent to 2,484.12

ENERGY: Benchmark U.S. crude lost 61 cents to $61.44 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price international oils, shed 56 cents to $64.93 per barrel.

CURRENCY: The euro was flat at $1.2304 while the dollar fell 0.3 percent to 106.52 yen.

You may also interested in

Argentine soccer star Carlos Tevez signs $40M...

Dec 29, 2016

Argentine striker Carlos Tevez has signed to play for Shanghai Shenhua, becoming the latest in a...

DEA opens shop in China to help fight synthetic...

Jan 6, 2017

The U.S. Drug Enforcement Administration plans to open a new office in southern China and, at...

McDonald's sells China business in deal worth up...

Jan 9, 2017

Fast-food giant McDonald's is selling a controlling stake in its China business to a group of...

China exports shrink as Trump trade tensions loom

Jan 13, 2017

China's exports fell back into contraction again last month, signaling renewed weakness for the...

China state media call Trump's Taiwan strategy...

Jan 16, 2017

China's state-run media says President-elect Donald Trump "speaks like a rookie" and called his...

About Us

Frontal Report is an emerging leader in all forms of media. We aim to be the leading news brand for readers around the world.

Contact us: sales[at]frontalreport.com

Subscribe Now!