Asian shares trade mixed ahead of US jobs report

News Summary

  • TOKYO (AP) — Global shares were trading mixed Friday ahead of a closely watched U.S. jobs report that may affect global interest rates.France’s CAC 40 lost 0.7% in early trading to 7,116.31, while Germany’s DAX dipped 0.9% to 15,362.64.
  • The job market has largely remained resilient despite big rate hikes by the Federal Reserve over the last year.Big tech companies have announced high-profile layoffs recently, but a report on Thursday suggested job cuts are not that widespread.
  • Such increases help stamp out inflation but also hurt the economy and investment prices.Among the Big Tech earnings reports that came after trading closed were Google’s parent company, Alphabet, which had jumped more than 7%, while Apple rose 3.7%.
  • In energy trading, benchmark U.S. crude fell 65 cents to $75.23 a barrel in electronic trading on the New York Mercantile Exchange.
  • Weaker than expected earnings reports from U.S. technology companies, announced after Wall Street trading ended, pulled Chinese benchmarks lower.
  • Fewer workers applied for unemployment benefits last week than expected, and the number dropped to its lowest level since April.
TOKYO (AP) Global shares were trading mixed Friday ahead of a closely watched U.S. jobs report that may affect global interest rates.Frances CAC 40 lost 0.7% in early trading to 7,116.31, while Ger [+2388 chars]