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Reuters
GLOBAL MARKETS-Wall Street muted on jobs growth as inflation, Delta fears weigh
A positive jobs report spurred Wall Street to push some stocks and Treasuries higher on Friday, but investor optimism was tempered by looming inflation, declining Federal Reserve stimulus and the spread of the Delta variant of the coronavirus. Nonfarm payrolls increased by 943,000 jobs in July after rising 938,000 in June, the Labor Department said in its closely watched employment report on Friday, suggesting the economy maintained its strong momentum amid demand for workers in the labor-intensive services industry. “It’s a number that’s hard to say anything but positive things about,” Sameer Samana, a market strategist at Wells Fargo Investment Institute in St. Louis, said in an interview.
