* Stock futures fall as March U.S. payrolls disappoint
* Europe, U.S. and some Asia markets closed for holiday
* Euro rallies, off three-week lows vs dollar
* Gold heads for weekly loss
By Chikako Mogi and David Gaffen
NEW YORK/TOKYO, April 6 U.S. stock futures fell
more than 1 percent and Treasuries prices rallied in a
holiday-thinned session on Friday following disappointing U.S.
job growth for March.
U.S. payrolls grew by 120,000 in March, far below the
expected gain of 203,000 jobs.
Trading volumes were light because of the Good Friday
holiday and market closings in Europe, and Treasuries rallied
sharply, with the benchmark 10-year note gaining 26/32 to drop
its yield to 2.10 percent.
S&P 500 futures fell 16.2 points, or 1.2 percent, to
1374, suggesting a weak open on Monday as the cash market is
closed Friday. Nasdaq 100 futures dropped 1.1 percent, or
31.25 points, to 2722.75 in thin trading. Dow futures
dropped 137 points, or 1.1 percent, to 12,847.
The euro rose against the dollar to $1.3092 after
hitting a three-week low of $1.3035 on Thursday and was poised
for its worst week in nearly four months, while the dollar index
, measured against key currencies, slipped from three-week
highs to 79.86.
The weak payrolls report could renew hopes for more monetary
stimulus from the Federal Reserve. This week's release of
minutes from its March meeting suggested less of an appetite for
more stimulus despite committee members expressing worries about
the sluggish pace of U.S. growth.
"This is going to keep the Fed in easy-policy mode," said
Sean Incremona, economist at 4cast Ltd in New York.
"They're going to want to see a step toward 300,000 before
they start to think about seeing a stronger outlook for the
The S&P 500's loss for the week of 0.7 percent was its
biggest weekly decline of the year as yields on Spain's debt
continued to march higher and its equity market plumbed lows not
seen since the height of the euro zone's crisis last year.
Spain's rising bond yields, which have revived concerns
about Europe's debt problems, could temper buying interest in
U.S. markets next week will focus on the beginning of
earnings season, as bellwethers J.P. Morgan Chase & Co
and Google Inc are expected to report results.
Trading was thin as markets in Australia, Hong Kong and
Singapore were closed for the long Easter holiday weekend.
Asian shares struggled earlier on Friday as investors stuck
to the sidelines, avoiding risk after rising yields in weaker
euro-zone economies refuelled concerns about the region's debt
MSCI's broadest index of Asia Pacific shares outside Japan
inched higher with a 0.09 percent gain. The
index hit a four-week low on Thursday.
A slew of data due next week from China, the world's second
largest economy after the United States, also deterred investors
from taking positions, as signs of sharper-than-expected
slowdown could further undermine sentiment.
Gold ticked higher to $1,637.99 an ounce in thin
trade on Friday but was headed for a weekly decline of more than
2 percent. Bullion hit a near three-month low of $1,611.80 this
week. Metals futures markets are closed Friday.
Oil rose on Thursday after two straight days of losses on
firm U.S. data and fears of Iran-related supply disruptions.
Brent crude futures climbed 0.89 percent to settle at
$123.43 a barrel, and U.S. crude jumped 1.81 percent to
settle at $103.31. Energy futures trading is closed Friday.