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Global Stocks Surge on Weak US Jobs Report

Guavy AI Editorial Team
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Global stocks are on track for their strongest weekly gain since May after a weaker-than-expected US jobs report. The report, which showed employment fell by 23,000 jobs in July, eased fears of an imminent Federal Reserve rate hike.

The Nasdaq rose 1.3% near midday, while the dollar fell, giving the Japanese yen a reprieve. The yen strengthened to 157.70 per dollar after earlier nearing 159, a level widely seen as a potential trigger for policy intervention.

MSCI's All-World index has risen 2.4% this week and was steady on Friday. Europe's STOXX 600 was up 0.6% on the day and 2% for the week, led by gains in healthcare and technology shares.

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