NEW YORK, March 9: Global stocks wobbled Friday as investors digested a jobs report that failed to settle the debate about when the US Federal Reserve could start cutting interest rates.
The US economy added 275,000 jobs in February, higher than analysts expected and accelerating from Januarys revised figure.
Stock wavered throughout the session, falling in pre-market trading as the news seemed to suggest the economy is running too hot to justify the Fed easing its monetary stance.
But the report also included downward revisions to previous months, as well as a rise in the unemployment rate to 3.9 percent from 3.7 percent.
All three major US indices ended the day lower, while the labor market figures did not give a clear indication of when the US central bank might start lowering interest rates.
"The Fed, having steered the economy with a steady hand thus far, is poised to maintain its cautious stance, likely resisting the clamor for rate reductions in the immediate term," said Richard Carter, head of fixed interest research at Quilter Cheviot.
Wall Street had reached all-time highs Thursday, lifted by Fed Chair Jerome Powell hinting at a more dovish tilt to monetary policy coming soon. —AFP
