Global stocks edged higher while the dollar weakened on Thursday as investors closely monitored upcoming US jobs data, anticipated to influence the Federal Reserve’s interest rate decisions.

Despite a slight uptick in unemployment applications last week, the U.S. job market continues to display remarkable strength with historically low layoffs and robust job growth. Employers added 256,000 jobs in December, signaling sustained economic health.

Despite an overall decline in December retail sales, record-breaking holiday spending led to unexpected gains in key sectors, challenging assumptions about upcoming Federal Reserve interest rate cuts.