Stocks, dollar up modestly after strong jobs data
NEW YORK (REUTERS) - Global shares rose modestly on Friday after a surprisingly strong United States (US) jobs report for November was tempered by a drop in American consumer sentiment amid a lack of progress in talks to avert the "fiscal cliff."
The dollar edged up, though the currency was off its highs as investors parsed the details of the labor market report, one of the most closely watched economic indicators.
US non-farm payrolls added 146,000 jobs last month, data showed, defying expectations of a sharp pullback related to superstorm Sandy that hit the US North-east in late October.
Uncertainty over whether US lawmakers will agree on a deal to avert spending cuts and tax increases continued to keep investors on edge. Any signs of how the talks are progressing could cause more fluctuations in the markets.