U.S. equities (SPX) stabilized after yesterdayâ€™s tumble and Treasuries rose after government data showed the economy added fewer jobs than forecast without stoking wage inflation. Gold rose, while oil fell.
While global stocks extended a retreat, equities in the U.S. were little changed amid speculation the employment data gives the Federal Reserve leeway to keep interest rates low. Treasury 10-year yields fell two basis points to 2.54 percent as of 10:29 a.m. in New York. Gold jumped 0.9 percent. The Standard & Poorâ€™s 500 Index was up 0.2 percent at 1,933.5 after losing 2 percent yesterday in its worst drop since April. The Stoxx Europe 600 Index slid 0.9 percent.
While American employers added 209,000 jobs in July, less than the estimate from a Bloomberg survey of economists, wages and hours were unchanged from June. Federal Reserve policy makers this week said they will keep interest rates low until wages accelerate and more discouraged workers find jobs.