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U.S. jobs data hits stocks, dollar, ups bonds

Fri Aug 3, 2007 8:55am EDT
 
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LONDON (Reuters) - Weaker-than-expected U.S. jobs data depressed stocks and the dollar on Friday and sent government bonds higher as investors saw a weaker U.S. economy and a greater chance of a Federal Reserve rate cut.

Wall Street stock index futures fell, pointing to a negative opening.

U.S. employers boosted payrolls in July at the slowest pace since February, adding 92,000 jobs as the national unemployment rate rose to a level last seen in January, the Labor Department reported.

The FTSEurofirst 300 was down 0.4 percent after the report and the euro rose to $1.3714 <EUR=>.

Yields on 10-year U.S. Treasury bonds <US10YT=RR> were down 2.6 basis points at 4.7452 percent.

 

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