Asia stocks mixed after softer-than-expected US jobs data

04:35

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Asia Pacific

Asia stocks mixed after softer-than-expected US jobs data

Asia markets today are mostly in the red with the Kospi in South Korea leading losses with a negative 0.26%. That's as a softer-than-expected US jobs report fueled hopes that the Fed will start cutting rates soon. US job growth totaled 175,000 in April, much less than estimated 240,000 The unemployment rate ticked higher to 3.9%, expectations were for a flat 3.8%. The jobless rate also edged up to 7.4%, its highest level since November 2021. Stocks jumped in US markets on Friday, with traders now pricing in a strong chance of two interest rate cuts by the end of 2024.

May 6, 2024