Mixed Markets Await US Jobs Data Amid Oil Price Volatility

Stock markets worldwide showed mixed results on Friday as investors awaited key US jobs data. Oil prices declined after surging earlier in the week due to tensions between the US and Iran, but remained above $90 a barrel.

Asian markets generally followed the lead of Wall Street's gains on Thursday, which were attributed to comments from two Federal Reserve officials casting doubt on an imminent interest rate hike. Christopher Waller, a governing board member, stated that his vote at a policy meeting this month would be influenced by inflation data, with a softer reading potentially leading him to hold rates.

The US jobs report for August is expected to provide crucial insights into the Federal Reserve's decision-making process. Analysts predict around 55,000 new jobs were added in August, following a surprise drop in July. This data will be closely watched as officials attempt to balance controlling inflation with sustained economic growth.

Volkswagen shares surged more than 6% after announcing plans to cut its workforce by 100,000 jobs over the decade. The job cuts represent approximately 15% of the company's global workforce and aim to address challenges such as US tariffs, patchy demand for electric cars, and intense competition from China.