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Shares, crude oil dip despite stronger US jobs

Published on Nov 3, 2012 6:47 AM
 
 A trader works on the floor of the New York Stock Exchange at the closing bell in this July 23, 2012 file photo. Global stocks and crude oil retreated on Friday even after a United States (US) employment report for October surpassed expectations, as investors looked beyond next week's presidential election to anemic outlook for global economic growth. -- PHOTO: AFP

NEW YORK (REUTERS) - Global stocks and crude oil retreated on Friday even after a United States (US) employment report for October surpassed expectations, as investors looked beyond next week's presidential election to anemic outlook for global economic growth.

The dollar jumped to a more-than-six-month peak against the yen and a three-week high versus the euro after US employers stepped up hiring and the unemployment rate ticked higher as more workers renewed job hunts, a hopeful sign for the economy.

Demand for US factory goods also rose in September by the most in over a year, but a gauge of business investment plans showed lackluster momentum in the economic recovery despite a slight upward revision.

But the plans for business spending highlighted the anemic outlook for the global economy next year, a picture that is shining through in corporate results.

 
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