US stocks enjoyed their best day in more than two months after a critical jobs report undershot expectations, bolstering hopes that investors could look forward to interest rate cuts later in the year.
The US added 175,000 jobs in April, well below the 241,000 forecast in a Bloomberg poll and the smallest rise for six months.
The cooling labour market spurred a 1.3 per cent gain for the blue-chip S&P 500 index, ending a week in which Federal Reserve chair Jay Powell signalled that rates would remain at a 23-year high of 5.25-5.5 per cent for even longer than anticipated.
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