Global stocks inch up as muted US jobs data eases pressure on the Fed, oil gains after pipeline cyber attack

Global stocks inch up as muted US jobs data eases pressure on the Fed, oil gains after pipeline cyber attack

Global stocks mostly rose modestly on Monday after weaker read of US monthly employment last week helped soothe some concern among investors over an overheating economy that could force the Federal Reserve to raise interest rates more quickly than currently anticipated. The US Labor Department on Friday said just 266,000 non-farm jobs were added in April over 1 million. Unemployment rose by 0.1% rather than being in line with predictions and falling. "While inflation fears will continue to linger around, investors can relax for a bit.", Milan Cutkovic, Market Analyst at AxiCorp commented. "With US jobs figures falling far short of expectations, investors see the chances of an early rate hike by the Federal Reserve declining. The central bank reiterated its dovish stance at the last meeting, and recent data reaffirmed to investors that it will keep its ultra-loose monetary policy intact for a longer period." he continued. were last up 0.2%, whilst were flat and declined by around 0.36% on Monday morning. Tech stocks saw a sell-off last week as trading levels slowed down, which led to the third consecutive week of losses for the Nasdaq. But not all analysts agreed that the jobs report had no implications for