Global stocks near record highs ahead of key US jobs data and as international trade accelerates

Global stocks near record highs ahead of key US jobs data and as international trade accelerates

Global stocks traded near record highs on Friday, as traders and investors remained optimistic about US employment data due later in the day. Initial jobless claims in the US fell in the latest week to a post-COVID 19 low point, further underscoring the resilience of the economic recovery.

"Our US economists are looking for strong nonfarm payrolls growth of +1.275 million, and a decline in the unemployment rate to a post-pandemic low of 5.7%," Jim Reid, research strategist at Deutsche Bank wrote ahead of the US job data release. "Though of course, even job growth at that level would still leave the total number of nonfarm payrolls more than 7 million beneath the pre-Covid peak," he pointed out.

Dow Jones, Nasdaq and S&P 500 futures were flat on Friday morning after the S&P closed just below a record high on Thursday and the Nasdaq made gains after its longest series of daily losses since October.

US 10-year bond yields inched higher and were last at 1.575% ahead of the jobs data release.

European equities rose after the Bank of England revised its economic growth forecasts upwards the previous day and confirmed that it would maintain its current monetary policies, and following strong regional