AFP, New York :
Global stocks traded cautiously Thursday ahead of a key US employment report while oil prices rose above $50 a barrel in New York trade for the first time since June.
Wall Street stocks finished little-changed while European bourses edged lower ahead of Friday’s September US employment report, which analysts expect will show a solid gain of 176,000 jobs last month.
Analysts said a good report will boost the odds of a Federal Reserve interest rate hike this year.
The dollar rallied meanwhile, pushing the pound to a fresh 31-year low against the US currency.
“Considering that nearly everyone at the Fed believes the case for a rate hike has strengthened, unless fewer than 150K jobs were created last month and earnings growth misses expectations, September non-farm payrolls will support the case for a December rate hike,” said BK Asset Management analyst Kathy Lien. US oil prices finished at $50.44 a barrel, boosted by a sharp fall in US crude and product stockpiles and last week’s decision by the Organization of the Petroleum Exporting Countries to cut output.
Some analysts doubted the oil rally’s staying power, noting that the agreement last week requires.
Global stocks traded cautiously Thursday ahead of a key US employment report while oil prices rose above $50 a barrel in New York trade for the first time since June.
Wall Street stocks finished little-changed while European bourses edged lower ahead of Friday’s September US employment report, which analysts expect will show a solid gain of 176,000 jobs last month.
Analysts said a good report will boost the odds of a Federal Reserve interest rate hike this year.
The dollar rallied meanwhile, pushing the pound to a fresh 31-year low against the US currency.
“Considering that nearly everyone at the Fed believes the case for a rate hike has strengthened, unless fewer than 150K jobs were created last month and earnings growth misses expectations, September non-farm payrolls will support the case for a December rate hike,” said BK Asset Management analyst Kathy Lien. US oil prices finished at $50.44 a barrel, boosted by a sharp fall in US crude and product stockpiles and last week’s decision by the Organization of the Petroleum Exporting Countries to cut output.
Some analysts doubted the oil rally’s staying power, noting that the agreement last week requires.
