Global markets and Wall Street futures rise after weak U.S. jobs report

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BEIJING (AP) — Global stock markets and Wall Street futures rose Monday after weak U.S. hiring in August fueled expectations that the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices.

London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong rose.

Investors appeared to welcome Friday’s Labor Department report that U.S. employers added only 235,000 jobs in August, barely one-third of the consensus forecast of 730,000.

Investors hoped that might prompt the Fed to postpone a reduction in bond purchases that pump money into the financial system.

Officials have indicated the Fed board might decide about that this month but wants to be sure a recovery is established, and say employment is a key factor.

“The weaker-than-expected jobs gains drastically reduce the chance of Fed tapering” at the September board meeting, Yeap Jun Rong of IG said in a report.

Read or Share this story: https://www.usatoday.com/story/money/2021/09/06/global-markets-and-wall-street-futures-rose-amid-weak-u-s-jobs-report/5747227001/

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