Global Stocks Surge on Weaker-Than-Expected US Jobs Report

LONDON, Aug 7 (Reuters) - Global stocks rose sharply on Friday after a weaker-than-expected US jobs report eased fears of an imminent Federal Reserve rate hike. The Nasdaq jumped 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. Among major gainers around midday were SpaceX and Tesla, up 12% and 3.8% respectively on Friday.

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