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Asian and European equities and US futures rose after the US nixed plans to slap tariffs on Mexico and weak jobs data fueled hopes of rate cuts.
The official employment report out Friday showed hiring rebounded last month and that wage growth eased.
Stocks are getting a lift from China stimulus pledge and Powell comments — ‘We don’t feel any hurry’ on rates
Chinese and European stocks are edging higher, while US futures are gaining. Boeing's crash woes are set to drag the Dow lower.
Chinese exports dropped a shocking 21%, and traders are nervous about European growth and US jobs.
The February jobs report is late, on March 8, the second Friday of the month, because of how the government schedules the survey behind the numbers.
The US added significantly more jobs than expected in January and wages increased despite the longest partial government shutdown in history.
The jobs report was expected to show that the unemployment rate held at a 49-year low for a third straight month.
The strong jobs report and wage growth could be a boost for President Donald Trump and the GOP heading into next week's midterm elections.
Wage growth is picking up, and the jobs report showed a new postrecession milestone for Americans' paychecks.
The low unemployment rate shown in Friday's jobs report added to evidence of a booming economy, now in a record eighth straight year of monthly job gains. It also showed the labor market continuing to tighten, perhaps eventually pressuring companies to pay workers more.