Global Markets Rise as Fed Rate Cut Looms

Global stock markets gained as signs of a cooling U.S. labor market and dovish remarks by Federal Reserve officials signal a probable interest rate cut. Meanwhile, Salesforce shares slid after underwhelming revenue figures, and Beijing's cooling measures impacted Chinese tech stocks.

Global stock markets closed higher on Thursday, fueled by dovish remarks from Federal Reserve officials pointing towards a potential interest rate cut this month. U.S. private payrolls added fewer jobs than expected in August, while jobless claims rose, underscoring a cooling labor market.

Wall Street equities advanced with the Dow, S&P 500, and Nasdaq all seeing gains, as European markets also followed suit despite a decline in Chinese stocks. In contrast, Salesforce shares fell sharply due to disappointing quarterly revenue driven by ineffective AI monetization.

Financial markets are pricing in almost certain expectations for a Fed rate cut later this month. European bond yields slightly decreased as traders kept an eye on geopolitical risks and emerging economic data, setting the stage for a cautious yet optimistic week ahead.

(With inputs from agencies.)