-- S&P 500 Falls 1% as Oil Jump Spurs Flight to Bonds: Markets WrapAustralian shares and Japanese equity futures declined. Hong Kong markets are set to resume trading after a holiday, while mainland China and Taiwan will be closed for a second day. Contracts for US stocks edged higher in early Asian trading after the S&P 500 and Nasdaq 100 indexes both fell on Thursday.Australian and New Zealand government bonds rallied Friday following gains for Treasuries in New York trading.
“As always, the monthly jobs report will have the final say,” said Chris Larkin at E*Trade from Morgan Stanley. “Investors will be looking for a ‘Goldilocks’ number that won’t give the Fed any reason to delay rate cuts, but also doesn’t suggest the labor market is taking a serious downturn.”Brent crude topped $90 a barrel as Israeli Prime Minister Benjamin Netanyahu said at a security cabinet meeting his country will operate against Iran and its proxies and will hurt those who seek to harm it.
Bank of Japan Governor Kazuo Ueda said further certainty about reaching the central bank’s inflation target would be needed before decisions are made on rate hikes. In commodities, gold inched lower Thursday after touching a fresh record earlier in the week. Copper rallied to the highest in 14 months, extending gains that began in February in the bellwether industrial metal in response to rising supply risks.S&P 500 futures rose 0.1% as of 8:12 a.m. Tokyo timeThe Japanese yen was little changed at 151.
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