Global stocks rise ahead of U.S. jobs report and tariff ruling

Global equities edged higher as investors awaited December U.S. jobs data and a U.S. Supreme Court decision on the legality of President Donald Trump's global tariffs. Oil and defence names were supported by rising geopolitical tensions and supply concerns.

Global markets opened cautiously higher as traders awaited two major events that could influence market direction. The U.S. December jobs report and a possible U.S. Supreme Court ruling on President Donald Trump's global tariffs were central to Friday’s moves. Geopolitical tensions and supply worries gave support to oil and defence-related stocks. Many investors stayed on the sidelines ahead of those market-moving items. Key developments: - European shares were up, with the pan-European Stoxx 600 about 0.4% higher and France's CAC 40 up roughly 0.6%. - Japan's Nikkei rose about 1.6%, helped by strong earnings and a positive forecast from Fast Retailing, the operator of Uniqlo. - The S&P 500 was flat the prior day while an aerospace and defence index reached a record high; S&P 500 futures were up about 0.1%. - Markets were awaiting a U.S. Supreme Court decision on the legality of President Trump's sweeping global tariffs; Capital.com analyst Kyle Rodda described the ruling as a "real wildcard." The article notes that striking down the tariffs could affect U.S. government revenue and influence Treasury yields. - Attention was also on U.S. labour data, with a Reuters survey cited that estimated nonfarm payrolls likely rose by about 60,000 in December; earlier JOLTS and ADP reports signalled slower employment gains. - Oil prices were near two-week highs, with Brent and WTI quoted near the levels reported, supported by concerns about supplies and developments in Venezuela, Iraq, Iran and Russia; the article also noted a social media post from President Trump about canceling a planned second wave of attacks on Venezuela. Summary: Markets were modestly higher ahead of two consequential items: the December U.S. jobs report and a possible Supreme Court ruling on presidential tariffs. Both reports are expected to be focal points for investors and could influence bond yields and sentiment. Undetermined at this time.