Home Economy Global equities climb, dollar drops as U.S. jobs data ease inflation fright

Global equities climb, dollar drops as U.S. jobs data ease inflation fright

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WASHINGTON (Reuters) – Global stocks rallied on Friday and oil and gold marched higher while the dollar fell after a solid but not blow-out U.S. monthly jobs report made investors less worried that the U.S. Federal Reserve would rein in monetary stimulus soon.

FILE PHOTO: Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid

U.S. nonfarm payrolls data showed 559,000 jobs were created last month, a sharp increase in hiring from April but below the 650,000 expected from a Reuters poll of analysts.

The pan-European STOXX 600 index rose 0.39% after hitting a record high this week. MSCI’s all-country world index, which tracks shares in 50 countries across the globe, gained 0.71%.

A stronger-than-expected jobs report would have heightened worries that the Fed might…

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