LONDON: World stocks fell Friday as investors remained cautious ahead of key US jobs data that could determine whether the Federal Reserve decides to introduce another batch of monetary easing measures. The FTSE 100 index of leading British shares was down 19.79 points, or 0.4 percent, at 5,642.34 while Germany's DAX fell 18.63 points, or 0.3 percent, at 6,257.62. The CAC-40 in France was 17 points, or 0.5 percent, lower at 3,753.47. Wall Street was poised for modest losses at the open – Dow futures were down 24 points, or 0.2 percent, at 10,888 while the broader Standard and amp; Poor's 500 futures fell 3 points, or 0.3 percent, to 1,153.50. How stocks end the week will largely hinge on the September nonfarm payrolls figures, which are released an hour before the Wall Street opening bell. The consensus in the market is that overall employment fell by around 25,000 with the loss of census workers largely behind the decline. And though 75,000 private sector jobs are expected to have been created during the month, the unemployment rate is expected to edge up by 0.1 percentage point to 9.7 percent. In most months, the payrolls data set the stock market tone for a week or two after their release. This time, they could prove to be even more important as the Fed decides whether to resume asset purchases of some form or other in the next few weeks – the most likely date is thought to be Nov. 3 at the conclusion of its next rate-setting meeting. “This does have the potential to act as something of a tipping point especially as equities continue to plot a broadly upward trend despite the uncertainties in the medium term,” said Ben Potter, research analyst at IG Markets. Stocks have been buoyed since Tuesday's decision by the Bank of Japan to cut its interest rate to near zero percent and its announcement it is preparing a 5 trillion yen ($60 billion) fund to buy government bonds and other assets to prop up the faltering Japanese economy.
