Stocks Rise as Weaker US Jobs Data Reduces Rate Hike Expectations

Global stock indexes rose on Friday after the release of weaker-than-expected US jobs data, which led to decreased expectations for an upcoming Federal Reserve interest rate hike.

The Labor Department's employment report showed that nonfarm payrolls increased by only 29,000 jobs last month, short of the expected gain of 90,000 according to economists polled by Reuters.

Job growth for August was revised down to 133,000 from a previously reported 162,000 surge. The weaker-than-expected data led to a decrease in bets on an October rate hike from the Fed, which now stands at around 80% compared to 74% before the data.