I'm Amy Anderson for the Optionally News Team Let's take a look at the global market highlights
and news that all traders and investors should be aware of.
Facebook soars pulling up markets Toyota is expected to report record earnings
And the U.S GDP gives markets a boost
Let's take a quick look at what is happening in the global markets now.
The US government reported that the economy grew at a solid 3.2% pace in the fourth quarter,
driven by strong consumer spending and exports.
That beat economists' expectations, and although it's not indicative of gangbusters growth,
the data seems to show the economy is moving forward modestly.
The Dow rose more than 100 points, while the S&P 500 and NASDAQ both gained more than 1%.
Facebook shares soared 14% to a new all-time high following strong quarterly sales and
earnings.
The social media giant's results showed the company has made huge strides in mobile advertising,
an area that previously worried investors.
European stock markets rebounded yesterday after data showed the United States economy
grew at a solid pace in the fourth quarter, offsetting worries that Chinese manufacturing
data, released earlier, showed a slowdown in the sector.
The DAX 30 index rose 0.4 per cent to 93-73.48.
France's CAC 40 index picked up 0.6 per cent to 41-80.02 and the UK's FTSE 100 index eased
0.1 per cent to 65-38.45.
In Asia the Nikkei recovered a bit after the selloff this week after news that Toyota Motor
Corp. is expected to log a record operating profit for the current business year through
March aided by the yen's fall, which boosts export competitiveness, sources said.
The auto giant's full-year operating profit is likely to reach 2.40 trillion yen.
In the foreign exchange markets, a report from Spain showed the country's economic recovery
picked up pace in the fourth quarter, with gross domestic product rising 0.3 per cent.
For the full year, the Spanish economy contracted 1.2 per cent.
In Germany, labour-market figures showed unemployment fell by 28thousand in January, better than
the 5thousand expected.
The U.S. dollar traded at a one-week high against a basket of major currencies early
on Friday, having been swept higher as investors took aim at the euro in a volatile end to
a choppy month gripped by concerns over emerging economies.
The euro skidded to a one-week low of $1.3543 on Thursday and also lost ground on the Japanese
currency, touching an eight-week low of 138.90.
The Australian dollar, bounced back towards 88 U.S. cents as it pulled away from a 3-1/2
year low of $0.8660 a week ago.
Moving to the commodities market gold looked set to snap a five-week rally by the close
on Friday, as strong US economic growth and weak Chinese demand defuel a rally that began
in late December.
Gold eased 0.1 per cent to $12-41.59 after a 2-per cent overnight drop.
Oil prices gained Thursday as U.S. fourth-quarter gross domestic product came in encouraging.
Gross domestic product of the world's biggest oil-consuming country increased at an annual
rate of 3.2 percent in the fourth quarter of 2013.
Light, sweet crude moved up 87 cents to 98.23 dollars a barrel while Brent crude gained
10 cents to close at 107.95.
This is Amy Anderson from OptionRally signing off.
Follow me on Facebook and watch for our new financial terms of the day and our weekly
events news.
See you next week