Global stocks show resilience amid a stronger than expected US jobs print. Cleveland Fed President Loretta Mester tells CNBC the fight against rising prices is ongoing. Chinese service sector activity contracts for the third straight month, while Beijing eases Covid restrictions in a bid to stave off an economic downturn. Crude prices gain after Saudi Arabia hikes the price-tag of its flagship product, signaling strong demand expectations even as OPEC-plus producers accelerate output increases. A U-turn for Elon Musk as the Tesla CEO backtracks on claims the automaker will need to cut 10 percent of its workforce, after saying he feels 'super bad' about the economy. 

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