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Wall Street ends down after stunning jobs growth raises Fed questions

By Lewis Krauskopf, Shreyashi Sanyal and Johann M Cherian (Reuters) – Major U.S. stock indexes ended lower on Friday after surprisingly strong jobs data sparked concerns about aggressive Federal Reserve action, while investors digested a mixed bag of megacap company earnings reports. The S&P 500 still posted a gain for the week, which included a …

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Honda issues ‘Do Not Drive’ warning for 8,200 U.S. vehicles over air bag risks

By David Shepardson WASHINGTON (Reuters) -Honda Motor Co on Friday issued a “Do Not Drive” warning for 8,200 Acura and Honda vehicles with unrepaired Takata air bag inflators in the United States. The urgent warning covers various 2001-2003 model year Honda Accord, Civic CR-V and Odyssey, Pilot and Acura 3.2CL and 3.2 TL vehicles with …

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Stocks tumble, U.S. bond yields rise on strong jobs report

By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks dropped more than 1%, while U.S. Treasury yields and the dollar rose on Friday after a shockingly strong U.S. jobs report renewed concerns the Federal Reserve may remain aggressive in its path of interest rate hikes as it tries to tame inflation. The …

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Fed seen hiking policy rate above 5% as job gains surge

By Ann Saphir (Reuters) – The U.S. Federal Reserve is likely to need to lift the benchmark rate above 5% and keep it there to squeeze too-high inflation out of an economy where the labor market remains strong even after nearly a year of the most aggressive round of Fed rate hikes in 40 years. …

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Oil falls about 3% as strong U.S. jobs data prompt interest rate concerns

By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell to over three-week lows on Friday in a volatile session, after strong U.S. jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products. Brent crude futures fell $2.23, or 2.7%, to $79.94 a …

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U.S. reports blowout job growth; unemployment rate lowest since 1969

By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth accelerated sharply in January while the unemployment rate hit more than a 53-1/2-year low of 3.4%, pointing to a stubbornly tight labor market, and a potential headache for Federal Reserve officials as they fight inflation. The Labor Department’s closely watched employment report on Friday also showed …

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Dollar jumps after “monster” job report

By Karen Brettell NEW YORK (Reuters) – The dollar jumped on Friday after data showed that U.S. employers added significantly more jobs in January than economists expected, potentially giving the Federal Reserve more leeway to keep hiking interest rates. The Labor Department’s closely watched employment report showed that nonfarm payrolls surged by 517,000 jobs last …

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Man pleads guilty to treason offence, threatening to kill Queen Elizabeth

By Sam Tobin LONDON (Reuters) -A man caught carrying a loaded crossbow at late Queen Elizabeth’s Windsor Castle home pleaded guilty in a London court on Friday to an offence under the Treason Act and threatening to kill the monarch. Jaswant Singh Chail, 21, said “I am here to kill the queen” when he was …

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Gold slides over 2% as robust jobs report stokes hawkish Fed fears

By Seher Dareen (Reuters) – Gold prices dropped over 2% on Friday to a more than three-week low after stronger-than-expected U.S. jobs data raised fears that the Federal Reserve could keep hiking interest rates. Spot gold dipped 2.6% to $1,863.66 per ounce by 1:40 p.m. ET (1840 GMT). U.S. gold futures settled down 2.8% to …

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Financials power Indian shares to weekly gains

BENGALURU (Reuters) – Indian shares rose on Friday and logged weekly gains, aided by a rise in financials and optimism that the rate hike cycle may be near the end after global central banks hinted at inflation easing, while an intraday rebound in key Adani group stocks added to gains. The Nifty 50 index closed …

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