LONDON - World stocks were battling to avoid their first weekly fall in six weeks on Friday, as investors waited to see whether key U.S. jobs data later would give the Federal Reserve another reason to dismiss rate cut calls.
The dollar was also trying to end the week on a firmer note having seen markets scale back bets on a U.S. rate cut this week. As well as the jobs figures later, there are no less than eight Federal Reserve policymakers due to speak. “For the last four months it has been the unwinding the extreme pessimism that had built up ” he said, referring to trade war nerves and the slowdown in many of the world’s largest economies.
A report by payrolls processor ADP on Wednesday showed U.S. private employers added 275,000 jobs last month. Overnight on Wall Street, major indices,, had given up an initial attempt to regain their record highs and closed in the red, weighed down by energy shares.
Source: News Formal (newsformal.com)
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