European stocks advance with U.S. equity-index futures Crude pares weekly slide as Putin pushes for output freeze Share on Facebook Share on Twitter The dollar dropped and Treasuries rebounded with gold after U.S. jobs grew less than forecast, bolstering the case for keeping interest rates lower for longer. Oil rose as Russia said it will seek a deal with major producers to freeze output. The Bloomberg Dollar Spot Index erased gains and Treasury yields fell after monthly nonfarm payrolls increased by 151,000, less than the 180,000 forecast in a Bloomberg survey. European equities rose with U.S. stock-index futures and gold rebounded. Crude pared its biggest weekly drop since January. “This takes the Fed out of the picture and clears up any uncertainty,� said Bruce Bittles, chief investment strategist at Milwaukee-based Robert W. Baird, which oversees $110 billion. “This certainly wont hurt the market, but I don’t think the market can go very far because of seasonal trends in September and October, and because we’re in front of an election. � Federal Reserve Vice Chairman Stanley Fischer said this week that upcoming economic reports would determine the trajectory of interest-rate increases. While August payrolls trailed estimates, the figure for July was revised higher. Traders cut bets for a rate increase this month to 24 percent, from 34 percent before the report. Bonds The yield on 10-year Treasuries fell one basis point to 1.56 percent at 8:38 a.m. in New York. The two-year yield decreased by three basis points to 0.75 percent. Japanese government bonds due in a decade or more declined amid uncertainty over whether the Bank of Japan will tweak its debt-buying program this month and concern over demand at upcoming auctions. The 10-year yield touched minus 0.02 percent, the highest since March. “Yields are rising on wariness that the BOJ might reduce purchases in the super-long sectors when it meets this month,� said Souichi Takeyama, a rates strategist at SMBC Nikko Securities Inc. in Tokyo. “Rising volatility is also raising concerns about demand at a slew of auctions this month, putting upward pressure on yields in these maturities.� Currencies The Bloomberg Dollar Spot Index slid 0.4 percent after slipping 0.4 percent on Thursday, its first loss in a week. The yen fell 0.3 percent, extending its weekly slide to 1.7 percent. South Korea’s won strengthened 0.4 percent. The central bank raised its second-quarter economic growth estimate to 3.3 percent, having previously announced a 3.2 percent expansion from a year earlier. Stocks The Stoxx Europe 600 Index added 0.8 percent. Equities have struggled to maintain momentum in recent weeks, and a Bank of America report showed investors pulled cash from funds tracking the region’s equities for a 30th straight week. Rocket Internet SE slid 9.8 percent after the German startup investor announced a first-half loss. SBM Offshore tumbled 12 percent after a Brazilian prosecutor failed to ratify a leniency agreement related to a bribery case concerning Petroleo Brasileiro SA. Adidas AG lost 1.3 percent after Callaway Golf Co.’s chief executive officer said it will not bid for the German company’s golf division. Futures on the S&P 500 Index added 0.3 percent. The MSCI Emerging Markets Index gained 0.9 percent, extending gains. Commodities The Bloomberg Commodity Index rose 0.4 percent, cutting its slide since Aug. 26 to 3 percent. Crude oil rose 1.3 percent to $43.74 a barrel in New York, after tumbling 9.4 percent over the last four days. U.S. inventories increased last week, keeping supplies at the highest seasonal level in at least three decades, official data showed Wednesday. OPEC members plan to meet this month in Algiers to discuss action to stabilize the market and Saudi Arabia has said a cap on production would be positive. Russian President Vladimir Putin said he’s confident such a deal will be agreed. Gold fell 0.2 percent, headed for a 0.8 percent weekly loss. The metal retreated since mid-August as hawkish comments by Fed officials spurred speculation a U.S. rate hike is coming, eroding the appeal of assets such as bullion that don’t bear interest. Most industrial metals rose on Friday in London, led by a 0.7 percent advance in tin. Lead, tin and zinc all climbed to levels last seen in the first half of 2015, having been buoyed by data on Thursday that indicated manufacturing is picking up in China, the world’s second-biggest economy.

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