Global stocks rise after US jobs miss expectations

U.S. nonfarm payrolls increased by 50,000 in December, below Reuters poll forecasts, and global shares rose while the dollar eased as markets weighed the outlook for Federal Reserve rate cuts.

Global share indexes rose after U.S. employment data for December came in below market forecasts. The Bureau of Labor Statistics reported a 50,000 increase in nonfarm payrolls versus a Reuters poll expectation of 60,000, and the unemployment rate was 4.4%. Investors interpreted the softer hiring as a factor that may support additional Federal Reserve rate cuts this year. Currency and commodity markets moved modestly, with the dollar easing and both gold and oil rising. Key facts: - U.S. nonfarm payrolls rose by 50,000 in December, below a Reuters poll expectation of 60,000, and the unemployment rate was 4.4%. - U.S. stock futures were up about 0.3–0.4%, while Europe’s STOXX 600 gained roughly 0.9%. - The dollar gave up most of the day's earlier gains; the euro was near $1.1647 and the yen around 157.52, leaving the dollar about 0.42% higher on the day. - Gold was reported up about 0.2% at $4,485 an ounce and Brent crude rose about 0.6% to $62.36 a barrel. - U.S. two-year Treasury yields were around 3.513% and 10-year yields near 4.179%. - The article reports that markets still expect about two Federal Reserve rate cuts by year-end and that the U.S. Supreme Court may soon rule on the legality of President Trump’s tariffs. Summary: The softer-than-expected payrolls print coincided with gains in risk assets and a slightly weaker dollar, reinforcing market expectations for eventual Fed easing. Commodity prices and benchmark Treasury yields moved modestly in response. The Supreme Court’s forthcoming decision on tariffs is a separate near-term development that market participants are watching. Market pricing for two rate cuts by the end of the year remained in place.