20100906 1425 Global Market News.

GLOBAL MARKETS- Stocks, commodities gain on labor market report
NEW YORK, Sept 3 (Reuters) - Stocks jumped and commodities rose on Friday after data showing fewer U.S. job losses than expected reinforced other reports this week to ease fears the American economy is on the cusp of a new recession.
"It's not a great report, but it's a bit better than expected, and it does not indicate that we're into some sort of headlong plunge into a double dip," said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts.

US economic data damp down fears of new recession
WASHINGTON, Sept 2 (Reuters) - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.
The data released on Thursday, including sturdy sales from U.S. retailers last month, followed a report on Wednesday showing a surprising gain in manufacturing and suggested the economy retained some underlying strength.

Japan capex fall slows, 2nd qtr GDP seen revised up
TOKYO, Sept 3 (Reuters) - Japanese companies cut capital spending in April-June by a less-than-expected 1.7 percent from the same period last year, pointing to an upward revision of an anaemic preliminary reading for second-quarter GDP growth.
But the strong yen and slowing exports to major destinations such as the United States and China may hurt business sentiment and corporate willingness to spend, boding ill for the economic outlook, analysts say.

FOREX-Dollar slips broadly before U.S. payrolls
LONDON, Sept 3 (Reuters) - The dollar struggled on Friday while the euro crept up before U.S. employment data which is expected to show more job losses and may fuel dollar selling but also heighten risk aversion.
"If the figure is weak, we would see the dollar being sold off and the euro would rise, before it all dissipates," said Paul Mackel, director of currency strategy, at HSBC. "That has been the kind of reaction that we have been seeing to the past few data releases from the U.S."

GLOBAL MARKETS-Europe stocks gain;yen near 15-yr high vs dlr
LONDON, Sept 3 (Reuters) - European stocks edged higher after U.S. shares climbed, but the dollar struggled as markets braced for a key U.S. labour report expected to show more job losses, clouding the outlook for recovery.
"People are watching the growth in (U.S.) private sector employment, which is likely to be too low to be good enough for the economy," said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.