Global Equities Surge as Recession Fears Ease Amid Strong Job Data

Global equities jumped over 1% following lower-than-expected U.S. unemployment claims, easing recession fears. Treasury yields and the U.S. dollar also saw gains. Market sentiment was boosted despite ongoing uncertainties such as U.S. elections, Middle East tensions, and seasonal stock performance trends.

Global equities experienced a significant uptick, surging over 1% on Thursday due to lower-than-expected U.S. unemployment claims, which helped soothe recession fears. Treasury yields along with the U.S. dollar also saw gains.

Oil futures rose for the third consecutive day, with heightened supply risks in the Middle East countering initial demand concerns earlier in the week. The U.S. Labor Department reported a 17,000 drop in state unemployment claims, well below economist expectations, boosting market sentiment.

Despite the upbeat mood, experts caution investors to brace for potential volatility due to geopolitical tensions, upcoming U.S. elections, and generally weaker stock performance in August and September.

(With inputs from agencies.)