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  • Writer's pictureBy The Financial District

Global Stocks Retreat After Wall Street's Losing Week

Global shares were trading mostly lower on Monday after US employment data closed out a losing week for Wall Street.

Photo Insert: U.S. shares were set to drift higher with Dow futures up 0.2% at 35,217.00. S&P 500 futures rose nearly 0.3% to 4,509.25.

France’s CAC 40 slid 0.2% in early trading to 7,298.28, while Germany’s DAX lost 0.3% to 15,909.75.

Britain’s FTSE 100 was down 0.5% at 7,526.42. U.S. shares were set to drift higher with Dow futures up 0.2% at 35,217.00. S&P 500 futures rose nearly 0.3% to 4,509.25, Yuri Kageyama reported for the Associated Press (AP).

Investors were also closely watching earnings reports due later this week, including from Disney in the U.S., Alibaba Group in China, and Sony and SoftBank in Japan.

Japan’s benchmark Nikkei 225 recouped losses earlier in the day and gained 0.2% to finish at 32,254.56. Australia’s S&P/ASX 200 shed 0.2% to 7,309.20. South Korea’s Kospi fell 0.9% to 2,580.71.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Hong Kong’s Hang Seng changed little at 19,537.92, while the Shanghai Composite dropped 0.6% to 3,268.83.

“Local stocks appear to be latching onto the U.S. downswing from Friday as investors are still absorbing a down week for most markets,” Stephen Innes at SPI Asset Management said of Asian trading.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

A highly anticipated US jobs report said hiring was a touch weaker last month than economists expected, though wages for workers rose more than forecast. Although a strong job market is generally a positive sign for the economy, the US Federal Reserve could see particularly strong wage growth as putting greater pressure on inflation.

If the job market keeps moderating, it could allow inflation to continue to cool from a peak reached last summer.

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