Markets brush off weak US jobs report

The stimulus has been one of the major props to stocks over the past few years.

London | Published:January 11, 2014 2:40 am

Weak US jobs figures weighed only slightly on global stocks on Friday, with the disappointment largely assuaged by hopes that the US Federal Reserve won’t reduce its monetary stimulus again in the near future. The dollar, however, suffered a big reverse.

Though the figures were disappointing for stock investors who had been counting on further US economic strength, they likely mean the Fed will not reduce its stimulus any more than traders currently expect. The stimulus has been one of the major props to stocks over the past few years.

In Europe, the FTSE 100 index of leading British shares was up 0.7 per cent at 6,739.94 while Germany’s DAX rose 0.6 per cent to 9,473.24. The CAC-40 in France was 0.6 per cent higher at 4,250.60.

In the US, the Dow Jones industrial average was down 0.17 per cent at 16,416 while the broader S&P 500 index fell 0.2 per cent to 1,834.

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