Asia-Pacific stock markets posted gains Friday while investors rotated away from technology stocks, mirroring weakness seen in the US. Meanwhile, cooling job data and interest-rate uncertainty pressured US futures, while gold held firm above $4,000 per ounce according to analyst forecasts.

Japan's Nikkei has eased marginally while other shares are mixed as oil prices jump and investors look past noisy US jobs data with rates decisions due.

The U.S. added 50,000 jobs last month, a mixed report capping off a difficult year for the labor market.

Asian stocks tumble after President Trump announces sweeping U.S. tariffs, while markets brace for key jobs data that could sway...

European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data  Nasdaq

By Ann Saphir (Reuters) -The Federal Reserve’s vice chair of supervision, Michelle Bowman, on Saturday said recent weak job data underscores her concerns about labor market fragility and strengthens her confidence in her own forecast that three interest-rate cuts will likely be appropriate this year. Bowman was one of two Fed governors to dissent last month against the U.S. central bank’s decision to leave short-term borrowing costs in the 4.25%-4.50% range where they have been since December. Most Fed officials have been more cautious about lower rates given the potential they see that the Trump administration’s tariffs could disrupt progress on getting inflation down to the Fed’s 2% goal. In recent days, however, several Fed policymakers appear to have moved closer to supporting cuts. "Taking action at last week’s meeting would have proactively hedged against the risk of a further erosion in labor market conditions and a further weakening in economic activity," Bowman said in remarks prepared for delivery to the Kansas Bankers Association. Bowman’s remarks leaned even more heavily into her concerns about a labor market downturn than reflected in her post-meeting explanation of her policy vote. The Labor Department’s monthly employment report last Friday showed the unemployment rate rose to 4.2% -- "close to rounding up to 4.3%" was how Bowman described it Saturday. The report also included revisions to previously published data, showing that job gains slowed sharply over the last three months to a monthly average of 35,000. "This is well below the moderate pace seen earlier in the year, likely due to a significant softening in labor demand," Bowman said. "My Summary of Economic Projections includes three cuts for this year, which has been consistent with my forecast since last December, and the latest labor market data reinforce my view." The Fed has three remaining policy meetings scheduled for this year, in September, October and December. Economists typically point to 100,000 monthly job gains as being consistent with a steady-state labor market, though with big reductions in immigration since President Donald Trump began his second term in January that number is likely lower. Bowman’s full-throated support for rate cuts comes as Trump continues to pressure the Fed for easier policy, as he has all year. A search for a successor to Fed Chair Jerome Powell, whose term ends in May, is underway with several candidates, including Bowman’s fellow dissenter Christopher Waller, under consideration. Bowman said on Saturday that she had begun arguing for a July rate cut at the Fed’s June meeting. Trump has said the latest job figures were "rigged" and fired the commissioner of the Bureau of Labor Statistics shortly after the report was published. Bowman repeated her longstanding view that large revisions make her cautious about taking too much of a signal from job-market reports, but on Saturday she said she sees "the latest newson economic growth, the labor market, and inflation as consistent with greater risks to the employment side of our dual mandate." She said recent inflation data has also boosted her confidence that the Trump administration’s tariffs will not lead to persistent inflation. Excluding increases in goods prices related to tariffs, underlying inflation is "much closer" to the Fed’s 2% target than the official reading of 2.8% in June, based on the 12-month change in the core personal consumption expenditures price index. Trump administration policies including tax cuts and deregulation will likely offset any economic drag or price impact from the import levies, Bowman said. With housing demand likely at its weakest since the financial crisis and the labor market no longer pushing up on inflation, "upside risks to price stability have diminished," she said. Easing policy gradually from its current moderately restrictive stance would "reduce the chance that the Committee will need to implement a larger policy correction should the labor market deteriorate further."

Investing.com-- Asian stock markets traded mixed on Monday as Japan’s Nikkei slumped, tracking Wall Street’s decline over a weaker U.S. jobs report, while other regional indexes saw limited movement as investors evaluated the effects of newly announced U.S. tariffs. Wall Street ended lower on Friday, notching sharp weekly losses as recent trade tariffs announced by President Donald Trump rattled investors, while a weaker-than-expected nonfarm payrolls data stoked economic growth concerns. U.S. stock index futures edged higher in Asian trading on Monday. Nikkei tumbles as yen strengthens after US jobs report The U.S. Labor Department reported on Friday that July nonfarm payrolls rose by only 73,000, far below expectations, while May and June job figures were revised down sharply. The unemployment rate rose to 4.2% from 4.1%. This weaker-than-expected data fueled widespread bets on a September Federal Reserve rate cut. The dollar slid sharply as yields tumbled, boosting the yen. The yen’s USD/JPY pair dropped more than 2% on Friday. It was trading marginally higher on Monday. A stronger yen weighed heavily on Japanese exporters and capped gains in the Nikkei 225, which lost more than 2% on Monday, wiping out most of last week’s modest recovery. Investors weigh Trump tariffs; RBI decision ahead President Trump’s executive order last week imposed new tariffs ranging from 10% to 41% on imports from dozens of countries, including Canada, Brazil, India and Taiwan. The changes raised the average U.S. tariff rate to roughly 18%, the highest since the 1930s, and generated volatility in global equity markets. Several Asian markets, particularly exporters, came under pressure following the announcement. Chinese markets were muted on Friday after sharp losses in the previous session. The Shanghai Composite index was little changed, while the Shanghai Shenzhen CSI 300 tarded largely flat. Hong Kong’s Hang Seng index edged 0.2% higher on Monday. Australia’s S&P/ASX 200 fell 0.3%, while Singapore’s Straits Times Index rose 0.7%. South Korea’s KOSPI rose 0.7% after a nearly 4% plunge on Friday. Last week, new finance ministry proposals revealed plans to increase both corporate income and investment taxes. Elsewhere, futures tied to India’s Nifty 50 edged up 0.1% on Monday. The Reserve Bank of India will meet this week, with an interest rate decision due on Wednesday. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

Wall Street Week Ahead-Investors eye US jobs data as stocks hit record highs  The Economic Times

(Reuters) - European shares were little changed on Friday, as investors refrained from placing major bets ahead of crucial U.S. jobs data, with persistent trade tensions adding to the uncertainty. The pan-European STOXX 600 held its ground at 551.9 points, as of 0709 GMT, though the index remained on track for a second consecutive weekly gain, if momentum holds. A monthly reading of U.S. non-farm payrolls will set the tone for the day, and help investors gauge how the Federal Reserve could navigate this uncertain trade environment. U.S. President Donald Trump doubled tariffs on steel and aluminum imports earlier this week, escalating trade tensions. Following this, the Trump administration requested countries to submit their best offers by Wednesday, but markets have yet to see any concrete outcomes. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if PMMAF is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

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