US Jobs Data Looms Large Over Global Stocks
Global stocks are poised for their strongest weekly gain since May as investors await key U.S. jobs data, which could influence interest-rate decisions.
The MSCI's All-World index has risen 2.3% this week and was steady on Friday, while tech and drugmaker shares boosted Europe's STOXX 600 by 0.2% on the day and 1.6% for the week.
Investors are focused on the U.S. payrolls report due later in the day, with forecasts centered on a 80,000 jobs gain for July after 57,000 in June and an unemployment rate of 4.2%.
Federal Reserve traders are split over whether to raise rates next month, making Friday's payrolls number crucial in tipping the balance.
Michael Feroli, chief U.S. economist at JPMorgan, said a strong jobs number would reinforce higher-for-longer pricing and put upward pressure on rates, while a soft report could ease yields and shift policy expectations to a dovish path.