Emerging Markets-Stocks rise as investors seize on weak US jobs data

Over the weekend, Tehran reiterated that it would not reopen the Strait of Hormuz until Washington met certain demands, potentially keeping oil prices elevated and inflation risks front and centre. The U.S.-Iran war, now in its sixth month, has shown few signs of easing despite stop-start diplomatic efforts.

The "fragile labour market implies (that the) FOMC can let the energy price shock pass," said Samuel Tombs, Pantheon Macroeconomics' chief U.S. economist, referring to the Federal Open Market Committee, the body of Fed policymakers which decides rates.

MSCI's gauge of EM equities (.MSCIEF) rose 0.73%, after declining last week. Its corresponding currencies gauge (.MIEM00000CUS) traded 0.11% higher.

The gains illustrate investors' eagerness to latch on to any data that may prompt a dovish tilt at the Fed.

"Investors are getting fatigued over the Iran situation. It's become very unpredictable," said Louis Navellier, chief investment officer at Navellier & Associates.