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Wall Street stocks seesawed Friday as a hotter-than-expected US jobs report soothed worries about the economy but fueled concerns that the Federal Reserve would keep interest rates higher for longer.
Oil posted a weekly decline as algorithmic traders accelerated selling pressure after OPEC+ announced a plan to loosen its production curbs.
US stocks moved lower on Friday after a hotter-than-expected May jobs report sent bond yields surging. Despite the strong jobs report, the unemployment rate rose to 4.0% from 3.9%, driven by a decline in labor participation. The strong payroll gains poured some cold water on the prospects of an imminent interest rate cut from the Federal Reserve, though chances for a rate cut in September remain in play.
On Friday, oil markets exhibited subtle shifts that signaled broader economic currents.
(RTTNews) - The Malaysia stock market headed south again on Wednesday, one day after ending the six-day losing streak in which it had stumbled alm...