The Albany Gazette - Stocks mostly rise as beaten-down tech stocks enjoy bounce

Oil prices steadied as markets tracked developments in the US-Iran talks and traffic flows through the Strait of Hormuz.

The dollar dropped against main rivals on receding prospects of tighter US borrowing costs.

Earlier in the week, the yen struck a 40-year low versus the dollar on talk of US rate hikes.

"A mixture of relief post the payrolls data, a reversal of the sell-off in the chip stocks and more volatility in the yen are the main narratives," noted Kathleen Brooks, research director at XTB trading group.

Investors welcomed key data Thursday showing the US economy added fewer than half the jobs forecast in June, while figures for the previous two months were revised down.

The readings suggested the labour market was not as strong as thought, and hands the Fed some breathing room to hold off from hiking rates, boosting global markets.

Speculation had grown since the central bank's June policy meeting that it would announce a rate increase this year because of elevated inflation and after new Fed boss Kevin Warsh said price stability was his key goal.

Against such a backdrop, the likelihood of a US rate hike before the end of the year remains, according to some analysts.

"The US labour market today is not strong enough to instigate rate hikes but importantly is no longer a handbrake or impediment to hikes," said Rodrigo Catril, analyst at National Australia Bank.

Concerns about surging valuations for technology companies amid a race for all things AI continued to dominate sentiment.

Seoul's Kospi stocks index closed up 5.8 percent Friday -- having tanked by about 20 percent from its June 19 record high -- boosted by strong rallies in technology firms SK Hynix and Samsung.

Tokyo climbed more than one percent, along with Hong Kong, Manila, Bangkok and Jakarta.

European indices largely rose, though London dipped as a stronger sterling makes UK exports more expensive.

The gains for global equities followed Thursday's mixed session on Wall Street, where the tech-heavy Nasdaq sank 0.8 percent.

The Dow jumped more than one percent, however, ahead of the American Independence Day holiday.

- Key figures around 1045 GMT -

London - FTSE 100: DOWN 0.3 percent at 10,621.02 points

Paris - CAC 40: UP 0.1 percent at 8,479.42

Frankfurt - DAX: UP 0.5 percent at 25,695.39

Seoul - Kospi: UP 5.8 percent at 8,088.34 (close)

Tokyo - Nikkei 225: UP 1.5 percent at 69,744.07 (close)

Hong Kong - Hang Seng Index: UP 1.3 percent at 23,350.03 (close)

Shanghai - Composite: UP 0.4 percent at 4,043.64 (close)

New York - Dow: UP 1.1 percent at 52,900.07 (close)

Dollar/yen: DOWN at 161.09 yen from 161.12 yen

Euro/dollar: UP at $1.1450 from $1.1429

Pound/dollar: UP at $1.3355 from $1.3345

Euro/pound: UP at 85.71 pence from 85.65 pence

Brent North Sea Crude: UP 0.2 percent at $71.95 a barrel

West Texas Intermediate: DOWN 0.1 percent at $68.64 a barrel

burs-bcp/ajb

(M.Scott--TAG)