Global shares edge up after US jobs data underscores post-pandemic recovery, while inflation concerns ease

Global shares edge up after US jobs data underscores post-pandemic recovery, while inflation concerns ease

Global shares edged higher on Friday after weekly initial jobless claims in the US reached a new post-pandemic low, underscoring the strength of the post-pandemic recovery. The surprisingly stronger data helped soothe some concern that April's shock report on the broader labor market was a one-off and did not reflect an unwelcome slowdown in hiring. Treasury yields fell after the Federal Reserve's April meeting minutes on Thursday helped ease investors' concerns about inflation that had dominated markets throughout the week. This took pressure off some of the pricier sectors of the market, such as tech stocks and led major indices including the , and to finish higher on Thursday. "But to be honest, we can't help but feel a sense of déjà vu here, as last week both indices saw the same pattern of losses on Monday, Tuesday and Wednesday, before rising again on Thursday and Friday. So if we get another day in the green today we'll know this is Groundhog Week," Jim Reid, research strategist at Deutsche Bank, commented. were last up 0.23%, leading US futures positive trend. had last risen by 0.11% and were almost flat, having gained 0.07%. Yield on the US 10-year Treasury note was