ASX futures were higher Saturday morning, having advanced 82 points, or 1.1%, as of 6:00am.
United States
Major US stock indices climbed Friday on the back of a jobs report that blew past Wall Street expectations, signaling that hiring remains robust even as other data suggests inflation continues to slow. It added momentum to a market already bouncing from Washington's 11th-hour deal to avert a government default.
The Dow Jones Industrial Average jumped about 2.1% Friday, or more than 700 points, its best session of the year and enough to claw back recent days' losses to finish the week in the green. The S&P 500 edged 1.5% higher, while the technology-heavy Nasdaq Composite rose 1.1% to its sixth-straight weekly gain and a 52-week high. The Canadian S&P/TSX composite index gained 1.8%.
Investors piled into stocks across every industry after the Labor Department on Friday reported that the U.S. created 339,000 jobs in May. For money managers gauging whether the economy is running too hot or too cold, flat wage growth and rising unemployment rounded out a rare instance of Goldilocks jobs numbers.
Commodities
In commodity markets, Brent crude oil advanced 2.8% to US$76.33 a barrel while gold dropped 1.5% to US$1,948.96.
Bonds & Currencies
Australian government bonds were higher, with the 2 Year yield increasing to 3.64% and the 10 Year yield also rising to 3.64%. US Treasury notes were higher, with the 2 Year yield moving up to 4.50% and the 10 Year yield increasing to 3.69%.
The Australian dollar jumped to 66.11 US cents from its previous close of 65.69. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, moved up to 97.75.
Asia
Chinese stocks ended higher Friday, extending Thursday's gains. Recent dovish comments from Federal Reserve officials eased market worries about further monetary tightening, relieving pressure on emerging equities. The benchmark Shanghai Composite Index gained 0.8% to settle at 3230.27. The Shenzhen Index and the tech-heavy ChiNext Price Index both added 1.2%. Construction-material producers, home-appliance makers and real-estate services companies led gains. Haier rose 6.1%, Midea was up 6.0% and property manager 5
