GLOBAL MARKETS-World stocks, commodities boom on U.S. weak jobs data
Commodity prices jumped, the dollar slid to a two-month low and major global equity indexes scaled record peaks on Friday after weak U.S. jobs data for April tamped down fears that a booming economy would spark inflation and higher interest rates. The data eased worries the Federal Reserve would reduce its massive stimulus program anytime soon and was seen as helping President Joe Biden push through his plans for trillions of dollars in new spending on infrastructure and education.
The yield on the benchmark 10-year U.S. Treasury note slid to a two-month low of 1.469% before rebounding. Gold posted its biggest weekly gain – about 3.5% – since early November and copper shot to a new high, past a record set a decade ago. Nonfarm payrolls increased by only 266,000 jobs last month. Data for March was revised down to show 770,000 jobs added instead of 916,000 as previously reported….