Gold Tumbles as Investors Mull Impact of Payrolls: Markets Wrap

Gold Tumbles as Investors Mull Impact of Payrolls: Markets Wrap

(Bloomberg) -- Asian stocks are set to start the week steady after a better-than-expected increase in U.S. payrolls fueled expectations that the Federal Reserve is moving closer to a pullback of stimulus.

Futures rose in Australia, but they fell in Hong Kong earlier. Japan markets are closed for a holiday. On Friday, the S&P 500 climbed to a record, led by financials and materials, while the technology-heavy Nasdaq 100 fell. U.S. job growth accelerated in July by the most in almost a year and the unemployment rate declined, illustrating momentum in the labor market as it grapples with hiring challenges.