Markets steady as US jobs report comes in under forecast
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Wall Street equities continued their climb while Treasury bonds softened as investors grappled with the implications of a much weaker than expected US jobs report for the world’s largest economy.
Employers in the US added 235,000 jobs in August, the government’s monthly non-farm payrolls survey showed, about one-third of economists’ predictions of more than 728,000 new hires. Wages rose more than expected, however, while the participation rate was unchanged at 61.7 per cent.
Wall Street’s blue-chip S&P 500 share index had edged 0.1 per cent higher by mid-afternoon in New York, while the technology focused Nasdaq Composite rose 0.2 per cent. Both indices were at highs. Meanwhile, Europe’s Stoxx 600 share index fell 0.6 per cent.
The yield on the 10-year US Treasury…