Asian stocks slip after US jobs data, oil rises

Market Performance - MSCI's regional equities gauge dropped 0.1%, marking a third consecutive day of losses, while the S&P 500 also fell for three days, and the Nasdaq 100 increased by 0.3% [1] - Tesla Inc. shares declined approximately 1% in extended trading due to a potential 30-day suspension of sales in California [1] Oil Market - West Texas Intermediate crude oil rose over 1% following President Trump's announcement of a "total and complete blockade" on sanctioned oil tankers entering and leaving Venezuela [2][10] - Oil prices increased from their lowest levels since 2021, with West Texas Intermediate climbing above $56 per barrel after a nearly 6% drop over the previous four sessions, while Brent settled just below $59 [10][11] Labor Market Data - Nonfarm payrolls increased by 64,000 in November after a decline of 105,000 in October, with the unemployment rate rising to 4.6%, the highest since 2021 [7][11] - The latest US labor data indicates a cooling jobs market, leading traders to hold off on increasing bets for near-term rate cuts, with markets pricing in a roughly 20% chance of a January reduction [3][4] Economic Outlook - Analysts suggest that the Federal Reserve is unlikely to react strongly to the labor data due to disruptions from the US government shutdown, indicating uncertainty regarding the timing of the FOMC's next move [8][11] - Retail sales showed little change in October, with declines in auto dealers and gasoline receipts offsetting stronger spending in other categories [11] International Relations - The Trump administration has threatened retaliation against the European Union for efforts to tax American tech companies, targeting firms like Accenture Plc, Siemens AG, and Spotify Technology SA [9][11] - Investors are closely monitoring Chinese stocks in Hong Kong, which have approached key bearish technical levels amid concerns over economic growth and fading tech gains [9]