- 'Sleeper agent' bots on X fuel US election misinformation, study says
- Death toll rises to 109 after Haiti gang attack, official says
- Tigers beat Guardians and on brink of advancing in MLB playoffs
- Argentina MPs back Milei's veto of university funding
- Man City sink Barca in Women's Champions League as Bayern outgun Arsenal
- Greek international Baldock, 31, found dead in pool: state agency
- Florida seaside haven a ghost town as hurricane nears
- Pharrell Williams to co-chair Met Gala exploring Black dandyism
- Wall Street indices hit fresh records as Chinese shares tumble
- Taiwan's president to deliver key speech for National Day
- Sea row on the menu as ASEAN leaders meet China's Li
- Injured Kane won't start England's Nations League clash with Greece
- Discord seen as online home for renegades
- US forecasts severe solar storm starting Thursday
- Mozambique starts tallying votes in tense election
- Zelensky moves to court European leaders in drive for military aid
- Ratan Tata: Indian mogul who built a global powerhouse
- Rodgers rejects 'false' suggestions of role in Saleh dismissal
- One dead as storm Kirk tears through Spain, Portugal, France
- Indian business titan Ratan Tata dead at 86
- Lebanon facing 'catastrophic' situation as 600,000 displaced: UN
- US warns Israel not to repeat Gaza destruction in Lebanon
- Musk's X returns in Brazil after 40-day showdown with judge
- Call her savvy? Harris unleashes unconventional media blitz
- Lucian Freud 'masterpiece' fetches £13.9 million at London sale
- SoFi Stadium to hold next two CONCACAF Nations League finals
- McIlroy and DeChambeau set for PGA-LIV 'Showdown' in Vegas
- Fed minutes highlight divisions over rate cut decision
- Steve McQueen debuts new WWII film at London festival
- Run blitz edges India and South Africa closer to World Cup semi-finals
- Zelensky to court European leaders in drive for military aid
- Israel captain says 'difficult' to focus on football in time of war
- Macron to host Ukraine's Zelensky after meeting Ukrainian troops
- Root says 'many more to get' after England Test runs landmark
- India pile up World Cup high to rout Sri Lanka
- One year later, Israeli hostage family learns of loss
- Texans receiver Collins, Pats' safety Peppers out for NFL clash
- Biden-Netanyahu talk as Hezbollah, Israeli forces clash
- Musk's X available again in Brazil after 40-day ban
- Reddy stars as India crush Bangladesh to clinch T20 series
- Nobel winners hope protein work will spur 'incredible' breakthroughs
- What are proteins again? Nobel-winning chemistry explained
- Arch rivals Ghana, Nigeria drawn together in CHAN qualifying
- AI steps into science limelight with Nobel wins
- Trump lauds India's Modi as 'total killer'
- Wall Street, Europe rise as Chinese shares tumble
- Hunkering down for Hurricane Milton at Disney -- but first, a few rides
- Reddy, Rinku power India to 221-9 in second Bangladesh T20
- Overshooting 1.5C risks 'irreversible' climate impact: study
- Time running out in Florida to flee Hurricane Milton
Stocks gain while dollar retreats as US labor market cools
Stock markets rose Friday as cooling US job growth raised hopes of interest-rate cuts, while London hit another record high following speculation of a bidding war for mining giant Anglo American.
Investors had been keenly awaiting the data, as the US non-farm payrolls (NFP) figures are key to the Federal Reserve's decision-making on when to lower interest rates.
The Fed kept rates at a 23-year high on Wednesday to fight stubborn inflation.
Hiring in the world's biggest economy came in at 175,000 last month, down from a revised March figure of 315,000, while wages rose by 0.2 percent, said the US Department of Labor.
Analysts at Forex.com had expected the US economy to add 238,000 jobs last month, and wages to increase by 0.3 percent month on month.
"This is a rare miss for the US jobs market which could potentially spell the end of the 'higher for longer' rhetoric we have become accustomed to," said Mahmoud Alkudsi, senior market analyst at Abu Dhabi-based financial services firm ADSS.
A string of data this year showing inflation was holding stubbornly above target, while the economy and labor market remain resilient, has seen the Fed indicate it will have interest rates higher for longer.
Markets had started the year expecting the Fed would cut rates six times this year, but those expectations dwindled to one or two.
"It was good enough to show the market that the economy should continue to grow, which is a good thing for earnings," Patrick O'Hare of Briefing.com said of the jobs report.
At the same time, the figures were likely to "validate" Fed Chair Jerome Powell's belief that the next policy move is unlikely to be a rate hike.
The dollar slid against its main rivals after the data was released.
"We will also see weaker US bond yields, with risk assets continuing to see upside," he added.
All three major US indices gained more than one percent.
- London stocks set record high -
European stocks also rose, with London setting a new record high as Anglo American shares vaulted more than three percent to top London's risers after a report that Swiss-based commodities giant Glencore was considering a move on the British group.
The speculation emerged one week after Anglo rejected a blockbuster $39 billion takeover bid from Australian rival BHP, dismissing it as highly unattractive and opportunistic.
Anglo and Glencore declined to comment on the Reuters report, which cited unidentified sources.
London's benchmark FTSE 100 index of top companies extended its record-breaking run to strike a new high at 8,248.73 points, dragging Frankfurt and Paris higher in its wake.
"A bidding war for an FTSE beast like Anglo would be just what investors have been hankering for," Finalto analyst Neil Wilson told AFP.
BHP's colossal bid aims to create the world's biggest-listed producer of copper, which is expected to face a demand boom due to its pivotal use in renewable energy technology like electric vehicles and solar panels.
Anglo shares finished the day up 1.2 percent, which those of Glencore shed 1.4 percent.
In Asia, Hong Kong led gains on a surge in tech giants due to forecast-busting results and a huge stock buyback from industry bellwether Apple, while the yen extended gains against the dollar on revived hopes for US interest rate cuts.
- Key figures around 2250 GMT -
New York - Dow: UP 1.2 percent at 38,675.68 (close)
New York - S&P 500: UP 1.3 percent at 5,127.79 (close)
New York - Nasdaq Composite: UP 2.0 percent at 16,156.33 (close)
London - FTSE 100: UP 0.5 percent at 8,213.49 (close)
Paris - CAC 40: UP 0.5 percent at 7,957.57 (close)
Frankfurt - DAX: UP 0.6 percent at 18,001.60 (close)
EURO STOXX 50: UP 0.6 percent at 4,921.48 (close)
Hong Kong - Hang Seng Index: UP 1.5 percent at 18,475.92 (close)
Tokyo - Nikkei 225: Closed for a holiday
Shanghai - Composite: Closed for a holiday
Dollar/yen: DOWN at 152.99 yen from 153.64 yen on Thursday
Euro/dollar: UP at $1.0767 from $1.0725
Pound/dollar: UP at $1.2546 from $1.2534
Euro/pound: UP at 85.78 from 85.56 pence
West Texas Intermediate: DOWN 1.1 percent at $78.11 per barrel
Brent North Sea Crude: DOWN 0.8 percent at $82.96 per barrel
burs-jmb/acb
M.A.Colin--AMWN