Global Equities Mixed To Kick Off The Week

Asian stocks were mostly lower on Monday in reaction to Friday's U.S. data which showed a weaker-than-expected jobs growth. The figures may prove to be the catalyst forcing the forcing the Federal Reserve to postpone a planned interest rate hike which was set to occur in the near-term. The Fed's Chairwomen JAnet Yellen is scheduled to speak at the World Affairs Council of Philadelphia on Monday at 12:30 PM ET. Asian markets were closed at the time of the U.S. jobs report but the dollar weakened against the Japanese yen which is considered to be a negative for the country's stock exchange. Japan's Nikkei index lost 0.37 percent while India's Mumbai Sensex index lost 0.24 percent and China's Shanghai Composite index lost 0.16 percent. On the other other, Australia's ASX index gained 0.71 percent after the country said its gross domestic product (GDP) grew 1.1 percent in the first 3 months of the year. Hong Kong's Hang Sang index gained 0.40 percent and Taiwan's TSEX index gained 0.06 percent.

European stocks were trading higher with more than 4 hours remaining. The UK's FTSE index was trading higher by nearly 1 percent and saw notable strength from mining companies as most commodities moved higher following Friday's jobs report. Germany's DAX index was trading higher by just 0.12 percent after the country reported that total orders from the manufacturing sector fell 2.0 percent in April from the prior month which was worse than the 0.6 percent decline some economists were expecting. "Markets are still coming to terms with some incredibly strong moves on Friday as the worst nonfarm payrolls headline number for over five years smashed the dollar rally," MarketWatch quoted Richard Perry, analysts at Hantec Markets as saying in a note. "After the huge volatility there now needs to be a period of settling." Oil prices also traded higher early Friday morning as Brent crude futures gained $0.58 to trade above the $50 per barrel mark yet again at $50.22. US WTI crude futures also gained $0.56 to trade at $49.18 a barrel.