Most US stocks strengthened on Friday night despite the December jobs report falling well shy of expectations.
Wall Street opened in the red after data revealed the US economy added just 74,000 jobs in December, missing estimates for a 196,000 gain.
Analysts put the weak number down to the harsh winter weather, which limited hiring across most of the eastern states.
In a positive takeout from the numbers, the jobless rate fell to 6.7% – the lowest since October 2008. Stocks managed to erase their losses, however, allowing the S&P500 to record its first weekly gain for the year.
It was a buoyant session for commodities, with most rising strongly amid speculation the poor December jobs numbers will prevent the Fed from being too hasty in withdrawing stimulus.
Precious metals scored hefty gains, while copper found support from Friday’s data out of China showing a rise in the nation’s imports last month.
In currency markets, the greenback was weaker against most of its major rivals, largely due to the worse-than-expected employment data.
In economic news, the ANZ job ads survey and home loans data are both due for release at 11:30am, AEDT.