GLOBAL MARKETS: Dismal US jobs data hits stocks; Treasuries soar
NEW YORK, July 8 (Reuters) - Stock markets around the world fell and oil prices slumped as a dismal report on America's labor market disappointed investors expecting a stronger recovery in the world's largest economy.
"It's a terrible number. There is no good news you can glean from it," said David Semmens, U.S. economist at Standard Chartered in New York.
OIL: Oil dips on jobs data; Brent/US spread at $22
NEW YORK, July 8 (Reuters) - Oil ended a strong week on a downbeat note as a dismal U.S. jobs report cast a pall on the economic outlook.
"The employment data has weighed mightily on oil prices. Employment trends are key to future demand, and this is now two months of poor data," said John Kilduff, partner at hedge fund Again Capital LLC in New York.
NATURAL GAS: Natural gas rises near 2 pct in weekend short cover
NEW YORK, July 8 (Reuters) - U.S. natural gas futures gained nearly 2 percent , rising in some pre-weekend short covering ahead of more hot weather and this week's stir in tropical activity.
"The natural gas market is seeing a modest price recovery after Thursday's storage disappointment and is getting some help from an 11- to 15-day temperature outlook that features above-average temperatures across most of the continental U.S.," said Citi Futures Perspective energy analyst Tim Evans.
EURO COAL: Futures edge up but fail to break $130/mt
LONDON, July 8 (Reuters) - European coal futures moved slightly upward but lacked clear price signals in any direction ahead of the weekend.
"The market tried to push above $130 at the beginning of July but once we hit that mark, too many offers were given to sustain that price," one financial trader said.
COMMODITIES: Markets slip on weak U.S. jobs data
NEW YORK, July 8 (Reuters) - Oil and industrial metals fell
as U.S. jobs data for June showed employers hired the fewest workers in nine months, making investors jittery about the outlook for raw materials demand.
"It's a terrible number, there is no good news you can glean from it," said David Semmens, an economist at Standard Chartered in New York. "It shows the labor market is still lagging improvements in the overall economy."
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