Blow to Donald Trump as USA jobs growth slows down

A job seeker fills out an application at the King Soopers grocery store table at a job fair at the Denver Workforce Center in Denver

San Francisco Federal Reserve Bank President John Williams said on Wednesday that while he sees three interest rate hikes this year as his baseline scenario, four rate increases would also be appropriate if the economy got an unexpected boost.

An alternative measure of joblessness that takes into account discouraged workers and the underemployed fell to 8.4 percent, its lowest reading since November 2007.

"The rest is kind of this noise, the monetary policy, what's going on in DC", Arone said, referring to Washington.

MSCI's all-country world stock index hit a new record, gaining 0.5 percent, as did British shares as financial stocks lifted the FTSE 100 index of top United Kingdom blue chips before paring gains.

In London, the FTSE 100 had climbed more than 50 points to touch a new all-time high of 7599 earlier in the session, but the steam later came out of the rally and it was dampened further by the United States figures. Both later trimmed gains closed the day higher. Average wages rose 0.2% to $26.22 an hour, the government said Friday.

The blue-chip Dow futures gained 79 points, or 0.38%, at 6:42AM ET (10:42GMT), the S&P 500 futures advanced 7 points, or 0.27%, while the tech-heavy Nasdaq 100 futures traded up 21 points, or 0.36%.

The greenback fell to seven-month troughs against the euro and Swiss franc, while sliding to a two-week bottom versus the yen. He noted, however, that the Fed's plan to push rates higher repeatedly later this year now looks far from certain.

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Despite the big miss in payrolls, analysts said this would not necessarily derail the Federal Reserve from raising interest rates this month. Against the yen, the dollar fell from one-week highs and last changed hands at 110.34 yen, down 0.90 percent.

Sterling was down 0.2 percent but still looking steadier, nearly a cent above this week's lows against the dollar and half a penny off Wednesday's 2-1/2 month low against the euro.

Brent crude dipped below $50 and headed for a second week of losses on worries Trump's decision to abandon a climate pact could spur USA drilling and worsen a global oil glut. U.S. West Texas Intermediate crude futures fell 52 cents to $47.84 per barrel.

US 10-year Treasuries rose 14/32 in price to push their yields down to 2.1678 percent.

Overnight, data showing a healthy uptick in private sector hiring and factory activity during May bolstered expectations that the US economy was picking up speed and lifted USA stocks after two days of losses.

Spot gold rose 0.89 percent to $1,276.50 an ounce, its highest since April 25, headed for its fourth week of gains.

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