Asian Shares Mixed as US Stocks Decline Amid Weaker Job Market
Asian shares were mixed on Friday as US stocks declined after a report showed employers unexpectedly cut 23,000 jobs last month. The S&P 500 rose 0.4% in early trading, while the Dow Jones Industrial Average edged down 52 points, or 0.1%, and the Nasdaq composite rose 1.1%. The weaker job market data put less upward pressure on inflation and allowed the Federal Reserve more time before raising interest rates.
The yield on the 10-year Treasury fell to 4.60% from 4.67% just before the government issued the report. Global shares were also mixed, with Germany's DAX rising 1%. The selling of computer chipmakers and other stocks linked to artificial intelligence appeared to taper off in Tokyo.
The price of Brent crude fell 0.7% after rising nearly 4% on Thursday due to concerns over the Strait of Hormuz, a vital waterway for oil supplies. Iran is close to a deal with Oman for reopening the strait, but a compromise may be needed since the Trump administration has ruled out Iran charging fees to ships.