From Nasdaq, Inc.:

Asian shares rallied after a late bounce in U.S. tech on Friday when Meta and Amazon quarterly results exceeded expectations. The jump added a combined $280 billion to the stock market value. While Nasdaq futures and S&P 500 futures extended gains, concerns about the health of regional lenders resurfaced following increased stress in New York Community Bancorp’s commercial real estate portfolio.

Nikkei added 1%, and MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.1%. Hong Kong’s Hang Seng and China’s bluechips made modest gains. Investors are waiting for U.S. payrolls data which are expected to show 180,000 new jobs in January, with the jobless rate ticking up to 3.8% from 3.7%.

Concerns about a possible Fed rate cut emerged after the unexpectedly weak private payrolls report, alongside a surprise jump in jobless claims. The uncertainty in the distribution survey indicates a greater degree of uncertainty regarding the job outcomes for January.

The slide in yields put downward pressure on the U.S. dollar, which fell 0.5% overnight. The euro was buoyant at $1.0878, and the sterling rallied 0.5% after the Bank of England announced it would trend carefully about rate cuts. Oil prices recouped previous losses after reports of a ceasefire between Israel and Hamas, with Brent crude futures rising 0.7% to $79.26 a barrel.

In the energy markets, oil prices recouped some recent losses as reports of a possible ceasefire between Israel and Hamas helped to ease supply concerns. Brent crude futures rose 0.7% to $79.26 a barrel, and U.S. West Texas Intermediate crude gained 0.6% to $74.3 a barrel. Safe-haven gold remained flat at $2,054.78.



Read more: GLOBAL MARKETS-Asian shares buoyed by US tech bounce, payrolls in focus