US jobs data continue to give stocks a lift

People stand in front of an electronic stock board of a securities firm in Tokyo, Monday, March 12, 2018. Asian stocks rose Monday despite U.S.-Chinese trade tension following solid Wall Street gains on strong U.S. employment data. (AP Photo/Koji Sasahara)
People walk by an electronic stock board of a securities firm in Tokyo, Monday, March 12, 2018. Asian stocks rose Monday despite U.S.-Chinese trade tension following solid Wall Street gains on strong U.S. employment data. (AP Photo/Koji Sasahara)

LONDON — Global stocks remained buoyant Monday following strong U.S. jobs data that eased concerns about the pace of wage increases. Ongoing concerns over a possible global trade war kept sentiment in check though.

KEEPING SCORE: In Europe, Germany's DAX rose 0.4 percent to 12,389 while France's CAC 40 added 0.1 percent to 5,277. London's FTSE 100 fell 0.1 percent to 7,208. U.S. stocks are set for a solid opening with Dow futures and the broader S&P 500 futures headed for gains of 0.2 percent.

US ECONOMY: Stocks remain buoyed by figures last Friday showing stronger than forecast job creation in February and weaker than expected wage increases. That helped to dampen inflation concerns that triggered the market's swoon a month back.

ANALYST TAKE: "Though it's beginning to wane, the main driver of trading this morning continued to be last Friday's pitch-perfect non-farm jobs report out of the U.S.," said Connor Campbell, financial analyst at Spreadex.

TRADE WAR?: Keeping gains in check are fears over a possible trade war following last week's decision by U.S. President Donald Trump to slap import duties on steel and aluminum. China's commerce minister, Zhong Shan, said Beijing wants to resolve disputes with Washington through negotiations but vowed to defend Chinese interests.

NORTH KOREA: U.S. officials said there will be no more conditions imposed on North Korea before a possible meeting of the two nations' leaders beyond the North's promise not to resume nuclear testing and missile flights or publicly criticize U.S.-South Korean military exercises.

ASIA'S DAY: The Shanghai Composite Index rose 0.6 percent to 3,326.70 and Tokyo's Nikkei 225 added 1.6 percent to 21,824.03. Hong Kong's Hang Seng jumped 1.9 percent to 31,585.00 and Sydney's S&P-ASX 200 gained 0.6 percent to 5,996.10. Seoul's Kospi rose 1 percent to 2,484.12

ENERGY: Benchmark U.S. crude lost 61 cents to $61.44 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price international oils, shed 56 cents to $64.93 per barrel.

CURRENCY: The euro was flat at $1.2304 while the dollar fell 0.3 percent to 106.52 yen.

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