· Wall Street stocks climbed on Thursday after data showing U.S. services-sector activity at a three-year low fueled expectations that the Federal Reserve would cut interest rates to stem a wider economic downturn.
A pivotal jobs report on Friday may contribute more evidence of whether the U.S.-China trade war is pushing the world’s largest economy toward a recession.
The Dow Jones Industrial Average .DJI rose 0.47% to end at 26,201.04, while the S&P 500 .SPX gained 0.80% to 2,910.63.
The Nasdaq Composite .IXIC added 1.12% to end the session at 7,872.27.
· Stocks in Asia were muted in Friday morning trade as investors await U.S. payrolls data for September, set to be released later stateside.
In Japan, the Nikkei 225 shed 0.22% in early trade, while the Topix index slipped 0.34%.
Over in South Korea, the Kospi declined 0.32% as shares of automaker Hyundai Motor fell 1.56%. Australia’s S&P/ASX 200 traded 0.1% higher as shares of biotechnology firm CSL surged 2.73%. Australia retail sales data for August is expected at 9:30 a.m. HK/SIN.
Market reaction in Hong Kong will be watched on Friday after reports that the city’s government is set to discuss potential emergency regulation to ban face masks in protests. The embattled city has been rocked by weeks of protests that have periodically degenerated into violence.
· Markets in China are closed on Friday for a holiday.
Reference: Reuters, CNBC
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