Global shares rise and oil softens as markets await US September payrolls

Global shares rose on Friday, 2 October, as wild swings in bond and currency markets calmed and oil prices declined ahead of key US labour-market data that could reshape bets on the Federal Reserve’s next move, Reuters reported from London.

Equities up, oil down

The pan-European STOXX 600 was up about 0.8% in the European session, though still heading for a weekly decline near 1%. Nasdaq futures rose about 0.7% and S&P 500 futures about 0.5%. US West Texas Intermediate crude futures fell roughly 3.8% to about $89.34 a barrel, while Brent was down about 2.5% to below $100; European gasoil, a diesel benchmark, fell about 5% to around $1,382.75 a metric ton as markets weighed recovering Middle East supply talk and EU discussion of releasing additional diesel stockpiles, Reuters said.

Payrolls in focus

Forecasts centred on a gain of about 90,000 nonfarm payrolls in September, with the unemployment rate expected to hold near 4.1%. A hotter print could revive odds of a second Fed rate rise this month — priced around 25% after policymakers said they wanted more data — while a December move remained fully priced. In Asia, MSCI’s Asia-Pacific ex-Japan index edged lower on the week; Japan’s Nikkei slipped on the day but was up nearly 3% for the week. Mainland Chinese markets stayed closed for a National Day holiday, and Hong Kong’s Hang Seng fell sharply after its holiday break.