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GLOBAL MARKETS-Dollar rises after jobs data; banks lead stocks higher

Published 2017-08-08, 11:45 a/m
© Reuters.  GLOBAL MARKETS-Dollar rises after jobs data; banks lead stocks higher
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* Financials boost Wall St, miners weigh on European shares

* Gold turns lower as dollar gains, crude prices volatile

* Global stock index touches record high

By Rodrigo Campos

NEW YORK, Aug 8 (Reuters) - Stocks across the globe were little changed after touching a record high, while the dollar turned higher against a basket of peers after U.S. job openings jumped to a record high in June.

The job market data underscored the view that the Federal Reserve has ammunition to continue on its tighter monetary policy path. A strong jobs report last Friday gave the dollar index .DXY its strongest daily performance this year.

The job openings data "was much stronger than expected. This reinforces the strong non-farm (payrolls) data from last Friday, and turned the dollar higher significantly," said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California.

The dollar index .DXY rose 0.37 percent, with the euro EUR= down 0.47 percent to $1.1737. Japanese yen weakened 0.03 percent versus the greenback at 110.79 per dollar, while Sterling GBP= was last trading at $1.296, down 0.55 percent on the day.

The view that the Fed could continue raising rates translated into a move higher in financial shares on Wall Street. Banks usually see better returns as the yield curve steepens, which it did marginally after the job openings data US2US10=TWEB .

"The strength of the job market is certainly one of the two things the Fed is looking at, and the jobs data would be the primary reason for the move higher in financials," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC.

The data "is raising the likelihood for further rate increases."

The Dow Jones Industrial Average .DJI rose 42.27 points, or 0.19 percent, to 22,160.69, the S&P 500 .SPX gained 5.77 points, or 0.23 percent, to 2,486.68 and the Nasdaq Composite .IXIC added 20.11 points, or 0.32 percent, to 6,403.88. pan-European FTSEurofirst 300 index .FTEU3 rose 0.19 percent and MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.08 percent.

Emerging market stocks rose 0.38 percent. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.16 percent higher, while Japan's Nikkei .N225 lost 0.30 percent.

Benchmark U.S. Treasury yields were near their session high after spiking higher following the jobs data. Trading was light overall as the market gets into the thick of summer, with Japan, whose central bank is the largest non-U.S. holder of Treasuries, closed next week for holidays. 10-year notes US10YT=RR last fell 9/32 in price to yield 2.2887 percent, from 2.257 percent late on Monday.

The 30-year bond US30YT=RR last fell 24/32 in price to yield 2.8728 percent, from 2.837 percent late on Monday.

Oil prices were volatile on increasing exports from key OPEC producers and news of lower crude shipments from Saudi Arabia. crude CLcv1 rose 0.2 percent to $49.49 per barrel and Brent LCOcv1 was last at $52.47, up 0.19 percent on the day.

Gold prices erased earlier gains after the jobs data lifted the dollar. gold XAU= dropped 0.3 percent to $1,253.36 an ounce. U.S. gold futures GCcv1 fell 0.47 percent to $1,258.80 an ounce.

Copper CMCU3 rose 0.78 percent to $6,464.00 a tonne.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Global assets in 2017

http://reut.rs/1WAiOSC Global currencies vs. dollar

http://tmsnrt.rs/2egbfVh Global bonds dashboard

http://tmsnrt.rs/2fPTds0 Emerging markets in 2017

http://tmsnrt.rs/2ihRugV

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