Stock market today: Asian shares trade mixed ahead of a key US jobs report
Associated PressTOKYO — Asian shares were trading mixed Friday as investors looked toward a United States jobs report being released later in the day. Market jitters over the possibility that the Federal Reserve might have to keep interest rates higher for longer — following reports showing the U.S. economy remains remarkably resilient — led to the market’s pullback in August after what had been a banner year. This week, reports on job openings, consumer confidence and inflation stoked hopes on Wall Street that the Fed may hold rates steady at its next policy meeting in September. “But if we get cooler jobs data, cooler inflation data, if we get cooler spending data, that’s what brings rates down dramatically and that gooses stocks higher. The latest inflation data follows updates on jobs and consumer confidence this week that also support hopes for the Fed to pause interest rate hikes.