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By Rodrigo Campos
NEW YORK (Reuters) - Stock markets across the globe rose the most in two weeks on Friday after U.S. job growth posted a sharp, unexpected increase, while a planned meeting between U.S. President Donald Trump and North Korea's Kim Jong Un gave crude oil a further boost.
The yen fell broadly after the Bank of Japan stuck to its dovish policy stance and as Kim's pledge to refrain from further nuclear or missile tests during the proposed talks buoyed investor sentiment.
But the dollar was otherwise little changed despite the U.S. economy having added the largest number of jobs in more than 1-1/2 years in February, as slowing wage gains indicated only a gradual increase in inflation this year.
Wall Street led global equity gains as the U.S. labor data landed in a sweet spot for stock investors.
"You got sort of a Goldilocks report with stronger employment coupled with modest wage growth, but not enough that it forces the (Federal Reserve) to act more rapidly than they otherwise would," said Scott Clemons, chief investment strategist at Brown Brothers Harriman in New York.
The Dow Jones Industrial Average <.DJI> rose 440.53 points, or 1.77 percent, to 25,335.74, the S&P 500 <.SPX> gained 47.6 points, or 1.74 percent, to 2,786.57 and the Nasdaq Composite <.IXIC> added 132.86 points, or 1.79 percent, to 7,560.81.
The pan-European FTSEurofirst 300 index <.FTEU3> ended up 0.41 percent and MSCI's gauge of stocks across the globe <.MIWD00000PUS> gained 1.12 percent, the most since Feb. 23.
Emerging market stocks rose 1.06 percent. Overnight, MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> closed 0.95 percent higher, while Japan's Nikkei <.N225> rose 0.47 percent.
YEN SLIDES, TREASURY YIELDS RISE
The yen fell sharply versus the U.S. dollar after the Bank of Japan stuck to its dovish policy stance and as Kim's denuclearization pledge boosted risk assets.
Still, the greenback slipped against a basket of currencies as the slow U.S. wage gains supported a view that the Federal Reserve would not quicken its pace of raising interest rates.
The Japanese yen weakened 0.56 percent versus the greenback at 106.83 per dollar. The dollar index <.DXY> fell 0.06 percent.
The Mexican peso gained 0.14 percent versus the U.S. dollar at 18.63. The Canadian dollar rose 0.59 percent versus the greenback at 1.28 per dollar.
U.S. Treasury yields advanced across the board after the strong jobs data.
Benchmark 10-year notes
The 30-year bond
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)