The dollar rose and global equity markets jumped on Friday after data showed U.S...
NEW YORK - The dollar rose and global equity markets jumped on Friday after data showed U.S. job growth increased by the most in 10 months in November, putting to rest recession fears and briefly taking the spotlight off contentious U.S.-China trade talks.
The improving data would appear to validate the U.S. Federal Reserve’s decision in October to signal, after three interest rate cuts this year, that no more are needed for now. European equities rallied, with the pan-regional STOXX 600 index rising 1.16%. Most major regional indices closed more than 1% higher.
The dollar index rose 0.29%, with the euro down 0.41% to $1.1056. The Japanese yen strengthened 0.18% versus the greenback at 108.57 per dollar. Top White House economic adviser Larry Kudlow said the Dec. 15 deadline is still in place but President Donald Trump likes where trade talks with China are going.
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