TOKYO (AP) — Global shares were mostly lower Friday ahead of the release of a U.S. monthly jobs report that is viewed as a bellwether for the recovery from the pandemic.
Markets declined in Europe and Asia and U.S. futures also were marginally lower. On Thursday, Wall Street retreated, dragged lower by a decline in technology shares.
France’s CAC 40 lost nearly 0.1% to 6,504.65 in early trading, while Germany’s DAX lost less than 0.1% to 15,623.14. Britain’s FTSE 100 slipped nearly 0.2% to 7,053.82. The future for the S&P 500 was unchanged and that for the Dow industrials slipped 0.1%.
In Asian trading, Japan’s benchmark Nikkei 225 slipped 0.4% to finish at 28,941.52. South Korea’s Kospi lost 0.2% to 3,240.08, while Australia’s S&P/ASX 200 rose 0.5% to 7,295.40. Hong Kong’s Hang Seng fell 0.2% to 28,918.10 and the Shanghai Composite erased earlier losses, edging 0.2% higher to 3,591.84.
The U.S. jobs report due out Friday could provide more clarity on the economic recovery and the potential for higher inflation. Economists are projecting it will show employers added 650,000 jobs in May.
While an improved jobs market suggests the economy is gaining momentum after the pandemic, investors are keeping a close eye out for signs of inflation.