U.S. nonfarm payrolls for December rose by 50,000, below market expectations of a 60,000 increase. However, the unemployment rate edged down to 4.4%, below forecasts of 4.5%, suggesting the labour market has not deteriorated rapidly. Following the data release, markets bet that the Federal Reserve would pause rate cuts for longer. At the same time, the weaker-than-expected jobs report did little to alter expectations for rate reductions later this year. U.S. equities advanced across the board, with the Nasdaq rising 0.81%, the S&P 500 gaining 0.65%, and the Dow Jones climbing 0.48% to a record closing high. The U.S. ... (full story)