London — Global stocks, oil and the dollar eased on Friday as investors took a cautious stance before Italy’s referendum on constitutional reform on Sunday, while a strong jobs report from the US cemented the case for a Federal Reserve rate increase. The upbeat employment report follows a strong set of economic data from the US, including manufacturing activity and construction spending, and strengthens the view that the Fed will tighten monetary policy faster than expected to keep inflationary pressures in check. US unemployment dropped to 4.6%, its lowest in more than nine years, making it almost certain that the Fed will raise rates later this month. Stock futures on Wall Street were down 0.2%. The S&P 500 is up more than 2% since the November presidential election on hopes that President-elect Donald Trump’s policies will stoke growth. Yields for 10-year US Treasuries eased after reaching an 18-month high of 2.492% overnight. The dollar was on course for its first weekly decline...
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