{"id":66167,"date":"2026-08-08T01:38:17","date_gmt":"2026-08-08T05:38:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/"},"modified":"2026-08-08T01:38:17","modified_gmt":"2026-08-08T05:38:17","slug":"global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/","title":{"rendered":"Global Markets Rally as Soft US Jobs Data Cools Rate Hike Fears; China Ramps Up Gold Buying"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/#Market_Surge_on_Soft_US_Labor_Data\" >Market Surge on Soft US Labor Data<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/#Chinas_Record_Gold_Accumulation\" >China\u2019s Record Gold Accumulation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/#Healthcare_Innovation_Modernas_mRNA_Milestone\" >Healthcare Innovation: Moderna\u2019s mRNA Milestone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/#South_Korea_Heatwaves_and_Infant_Investing\" >South Korea: Heatwaves and Infant Investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-soft-us-jobs-data-cools-rate-hike-fears-china-ramps-up-gold-buying\/66167\/#EV_Infrastructure_and_Sanctions_Evasion\" >EV Infrastructure and Sanctions Evasion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>European STOXX 600 hit an all-time high<\/strong> after <strong>US nonfarm payrolls fell by 23,000 in July<\/strong>, significantly missing the <strong>80,000 gain<\/strong> expected by economists and easing pressure on the Federal Reserve to raise interest rates.<\/li>\n<li><strong>China\u2019s <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> reserves surged by 640,000 ounces<\/strong> in July\u2014the largest monthly increase since October 2023\u2014extending the People&#39;s Bank of China&#39;s (PBOC) buying streak to <strong>21 consecutive months<\/strong>.<\/li>\n<li><strong>The FDA approved Moderna\u2019s (<a href=\"\/stock\/MRNA\">MRNA<\/a>) mFlusiva<\/strong>, the first-ever <strong>mRNA-based flu vaccine<\/strong>, specifically for adults aged 50 and older, with availability expected for the 2026-2027 season.<\/li>\n<li><strong>South Korea is facing a national crisis<\/strong> as temperatures reached a record <strong>42.5\u00b0C<\/strong>, prompting the first-ever &quot;severe heatwave warning&quot; for Seoul and a surge in retail investment accounts for infants as families pivot from real estate to equities.<\/li>\n<li><strong>US EV charging infrastructure is struggling<\/strong> with reliability and &quot;demand charges,&quot; leading some operators to intentionally throttle power delivery despite record electric vehicle sales.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Market_Surge_on_Soft_US_Labor_Data\"><\/span>Market Surge on Soft US Labor Data<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Global equities rallied on Friday as investors reacted to a surprisingly weak <strong>US July employment report<\/strong>. The <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> and <strong>Europe&#39;s STOXX 600<\/strong> both reached record levels after data showed the US economy <strong>shed 23,000 jobs<\/strong>, a sharp contrast to the projected growth. This &quot;bad news is good news&quot; print has led money markets to scale back expectations for a <strong>Federal Reserve<\/strong> rate hike in September, providing a tailwind for technology and healthcare sectors.<\/p>\n<p><em>Analysts suggest the cooling labor market gives the Fed significant &quot;breathing room&quot; to maintain current rates.<\/em> Under the leadership of Chair <strong>Kevin Warsh<\/strong>, the central bank has remained data-dependent, making this miss a critical pivot point for year-end monetary policy. The <strong>Japanese yen<\/strong> also found relief, strengthening to <strong>157.20 per dollar<\/strong> as the greenback retreated following the jobs data.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chinas_Record_Gold_Accumulation\"><\/span>China\u2019s Record Gold Accumulation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>People&#39;s Bank of China (PBOC)<\/strong> continues to aggressively diversify its reserves, adding roughly <strong>20 metric tons<\/strong> of gold in July. This move brings China&#39;s total official holdings to <strong>76.08 million fine troy ounces<\/strong>, valued at approximately <strong>$306.35 billion<\/strong>. The buying pace has quickened every month since March, signaling a structural shift away from dollar-denominated assets amid ongoing geopolitical tensions.<\/p>\n<p><em>Commodity strategists at Goldman Sachs estimate that central bank buying has contributed over 20% to gold&#39;s recent rally.<\/em> Spot gold prices remained resilient above <strong>$4,310 per ounce<\/strong> following the news. Some independent estimates suggest China&#39;s actual holdings could be double the officially reported figures as the nation seeks to hedge against potential sanctions and currency volatility.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Healthcare_Innovation_Modernas_mRNA_Milestone\"><\/span>Healthcare Innovation: Moderna\u2019s mRNA Milestone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>FDA<\/strong> has granted approval to <strong>Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>)<\/strong> for its influenza vaccine, <strong>mFlusiva (mRNA-1010)<\/strong>. This marks the first time mRNA technology, popularized during the COVID-19 pandemic, has been authorized for seasonal flu. The vaccine received full approval for adults aged <strong>50 to 64<\/strong> and accelerated approval for those <strong>65 and older<\/strong>, based on clinical trials involving <strong>40,000 participants<\/strong> that showed <strong>27% fewer flu cases<\/strong> compared to traditional vaccines.<\/p>\n<p><strong>Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>)<\/strong> CEO <strong>St\u00e9phane Bancel<\/strong> highlighted the approval as a demonstration of the &quot;versatility of the mRNA platform.&quot; The company expects to have doses available for the upcoming respiratory virus season. This development comes as a critical win for the biotech firm, which is looking to expand its respiratory franchise beyond COVID-19 boosters.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"South_Korea_Heatwaves_and_Infant_Investing\"><\/span>South Korea: Heatwaves and Infant Investing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>South Korea is grappling with extreme weather as the city of <strong>Yangsan<\/strong> hit a 122-year record high of <strong>42.5\u00b0C<\/strong>. The government has issued &quot;severe heatwave warnings&quot; across major hubs, including <strong>Seoul<\/strong>, where daytime highs are climbing to <strong>37\u00b0C-38\u00b0C<\/strong>. The heat has resulted in at least <strong>16 fatalities<\/strong> and over <strong>2,000 heat-related hospitalizations<\/strong> since May, forcing a national overhaul of crisis management systems.<\/p>\n<p>Simultaneously, a cultural shift in wealth management is taking hold in the country. <strong>Mirae Asset Securities<\/strong> reported that investment accounts for infants under one year old have <strong>nearly tripled<\/strong> over the past year. Parents are increasingly bypassing traditional savings accounts and real estate\u2014which faces high capital gains taxes\u2014to invest in <strong>US ETFs<\/strong> and domestic semiconductor stocks for their children.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"EV_Infrastructure_and_Sanctions_Evasion\"><\/span>EV Infrastructure and Sanctions Evasion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The US electric vehicle sector is facing growing pains as charging networks struggle to maintain pace with vehicle adoption. Drivers report increasing frustration with <strong>broken stations<\/strong> and <strong>throttled charging speeds<\/strong>. Industry experts at the <strong>2026 EV Charging Summit<\/strong> noted that some operators limit power delivery to avoid &quot;demand charges&quot; from utilities, creating a disconnect between a charger&#39;s advertised speed and its real-world performance.<\/p>\n<p>In geopolitical news, reports have surfaced regarding <strong>Russia\u2019s state-backed &quot;startup&quot; networks<\/strong> designed to evade Western sanctions. These networks utilize <strong>blockchain-based services<\/strong> and <strong>shadow fleets<\/strong> of aging tankers to facilitate oil exports and virtual currency payments. The <strong>US Treasury<\/strong> has responded by penalizing several Russia-linked fintech firms, including <strong>B-Crypto<\/strong> and <strong>Masterchain<\/strong>, for their roles in enabling these illicit financial flows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways European STOXX 600 hit an all-time high after US nonfarm payrolls fell by 23,000 in July, significantly missing 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