BEIJING (AP) — Global stock markets and Wall Street futures rose Monday after weak U. S. hiring in August boosted expectations that the Federal Reserve could postpone the withdrawal of economic stimulus measures that boosted stock prices.
London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong increased.
Investors gave the impression of welcoming Friday’s Labor Department report that U. S. employers created just 235,000 jobs in August, just one-third of the consensus forecast of 730,000.
Investors had hoped this could prompt the Fed to postpone easing purchases of bonds that inject cash into the monetary system.
Officials said it’s possible the Fed’s board will do so this month, but it must make sure a recovery is set in place and say employment is a key factor.
“The task is weaker than expected, particularly the chances of Fed cuts” at the September board meeting, IG’s Yeap Jun Rong said in a report.