world markets news in brief

World Markets Daily News – In Brief – Friday 05/08/2022

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. THE SYDNEY MORNING HERALD (AUSTRALIA)

ASX breaches 7000 points ahead of earnings season

BHP and the mining sector pulled the ASX higher to cap off a positive week with a solid rise, although energy stocks regressed despite strengthening the index this year.

. RTT NEWS (US)

Asian Shares Advance Ahead Of U.S. Jobs Data

Asian stocks rose on Friday as investors awaited an update on the U.S. jobs market later in the day for clues on the pace of monetary policy tightening going ahead.

. CNBC (US)

European stocks fall after strong U.S. jobs report; Rheinmetall down 8%

European markets fell on Friday afternoon after a key U.S. jobs report showed unexpected strength in the labor market.

. REUTERS (UK)

Oil prices set to end week at multi-month lows on recession fears

Oil prices rose slightly on Friday, bouncing off their lowest levels since February, as concern over supply shortages was countered by expected declines in fuel demand

Gold dips 1% as robust U.S. jobs data eases recession concerns

Gold prices extended losses to slide more than 1% on Friday as an encouraging U.S. jobs report eased recession worries and raised hopes the Federal Reserve will stick to its aggressive tightening path.

. THE WALL STREET JOURNAL (US)

Stocks Off Lows, Yields Rise After Strong Jobs Report

The jobs data dashed hopes of the Federal Reserve shifting away from its plan of interest-rate increases any time soon.