U.S. stock market steady on strength of jobs report

collected by :Molly Tony

☰BusinessU.S. stock market steady on strength of jobs reportAfter the U.S. levied tariffs on $34 billion worth of Chinese goods, China retaliated with similar tariffs on U.S. goods. (Spencer Platt/Getty Images)A strong jobs report Friday pushed stocks to a positive note despite the first real shots across the bow in a trade war between the United States and China. The U.S. Labor Department's closely watched jobs report issued Friday had Wall Street wags giddy. But trade pressures are pushing the other way."Many Wall Streeters had pointed to July 6 as the trade war D-Day. Swagel said the most interesting tidbit from the jobs report may be that 601,000 Americans entered the labor force.

Japan's place at the top of the stock market may be fleeting

China overtaking Japan's stock market capitalisation in 2014 was yet another blow – one that, at least superficially, has been rectified. This reversion to the mean, if you will, has more to do with China than anything afoot in Japan. At the same time, President Xi Jinping and the People's of Bank of China are curbing financial excesses. If anything, Japan investors should be internalising the sudden burst of honesty from the Bank of Japan. In its zeal to destabilise China, Team Trump is scuttling the best chance Japan had at a true revival in decades.

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