Bumper tech earnings supported world stocks on Friday, even as overwhelmingly strong U.S. jobs data lowered expectations of how much the Federal Reserve might cut interest rates this year and set government bond markets back. MSCI's global share index was most recently flat, although U.S. stock futures tipped Wall Street's S&P 500 share index to open 0.2% higher and the tech-heavy Nasdaq 100 to gain 0.5%. Amazon.com also rose 7% in pre-market dealings after its quarterly results impressed investors, underscoring how moves in big U.S. tech groups with huge valuations can have an outsized influence on market sentiment.
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