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Global stock markets gain on US jobs data, tariff talks hopes
Gulf Today
|May 03, 2025
Global stock markets rose on Friday as jobs data reassured investors on the US economy, as did indications Beijing and Washington may begin to talk about resolving their tariff standoff.
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Data showed that US hiring slowed much less than expected last month, with the world's largest economy adding 177,000 jobs.
European equities and US stock futures both jumped following the release of the data. Wall Street's main indices gained around one percent at the opening bell and held onto their gains during morning trading.
"The April jobs report may reassure investors that the labour market is holding up, giving them more confidence that the economy can hold up too," said Bret Kenwell, analyst at trading platform eToro.
Data released Thursday showed the US economy unexpectedly contracted in the first three months of the year on an import surge triggered by US Donald Trump's tariff plans. Falling US consumer confidence and rising jobless numbers have also caused angst among investors.
But XTB research director Kathleen Brooks said: "The market has been pricing out the prospect of US political risk from equities, as the news flow around tariffs remains positive."
The monthly US jobs data is also important for investors looking for indications of the US central bank's path for interest rates, and a smaller-than-expected monthly increase in wages should reassure the Federal Reserve on inflationary pressures in the labour market.
This story is from the May 03, 2025 edition of Gulf Today.
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