US powers rally as stocks climb ahead of jobs data

Impending US employment data expected to show a further improvement in the country's economy sparked gains for equity indices around the globe overnight.

The release of non-farm payrolls data later today has been tipped to show yet another improvement in the jobs situation in the US and confirm its ongoing recovery. Traders acted ahead of the release of the numbers, with the Dow and the S&P 500 both up 1.2% overnight. The gains set the tone for Asia where most major indices also saw substantial gains. In particular Japan, one of the worst performing markets so far this year, saw stocks jump. It closed up 2.2%, while the Hong Kong Hang Seng also saw a 1% rise. While an improvement in non-farm payrolls is a healthy sign for the ...