U.S. stock bulls are taking heart from a range of market signals pointing to an upbeat year for Wall Street, as equities sit on impressive gains despite worries that the Federal Reserve's monetary policy tightening may plunge the economy into a recession.
U.S. stock bulls are taking heart from a range of market signals pointing to an upbeat year for Wall Street, as equities sit on impressive gains despite worries that the Federal Reserve's monetary policy tightening may plunge the economy into a recession.
* Jan U.S. payrolls 517k vs 185k estimate. * Dollar bounces off 9-month lows. * Amazon (AMZN), Alphabet lower after earnings. By Chuck Mikolajczak. A gauge of global stocks slumped while U.S. Treasury yields and the dollar shot higher on Friday after a surprisingly strong U.S. jobs report rekindled concerns the Federal Reserve may need to stay aggressive in its rate hike path in order to tame inflation.
* * U.S. payrolls data coming up. By Naomi Rovnick and Stella Qiu. A global stock rally, powered by hopes of central banks ending aggressive rate rises, ran into roadblocks on Friday following weak earnings from U.S. tech giants and as U.S. jobs data loomed.
- Major U.S. stock indexes ended lower on Friday after surprisingly strong jobs data sparked concerns about aggressive Federal Reserve action, while investors digested a mixed bag of megacap company earnings reports. The S&P 500 still posted a gain for the week, which included a string of major market events, and stood not far from five-month highs.
* China shares fall, Japan's Nikkei up 0.3% * Sentiment hurt by weak earnings from U.S. tech giants. * Sterling, euro falter after BOE, ECB decisions. * U.S. payrolls data coming up. By Naomi Rovnick and Stella Qiu.
The euro and sterling slipped against the dollar on Friday as markets took a dovish cue from policymakers at the European Central Bank and the Bank of England, who said inflationary pressures in their economies have become more manageable.
A look at the day ahead in European and global markets from Ankur Banerjee. After the central bank triple-header buoyed risk appetite and emboldened investor hopes of the end of the massive global tightening cycle came the Big Tech triple-header to revive worries over global economic conditions.
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