Let's take a look at the global market highlights and news for April 8th 2014.
AirBnB value soars Markets turning down with little data
The US dollar continues on a strong note Let's see whats happening in the global markets
now...
In the global equities market: Wall Street closed sharply lower as investors
strike a cautious note ahead of earnings season.
The hardest hit were tech stocks, while the S&P 500 saw its worst three-day span since
late-January.
The Dow Jones Industrial Average gave up 166.84 points, or 1.02 per cent, to 1-62-45.87.
The S&P 500 eased by 20.05 points to 18-45.04, while the NASDAQ slumped 47.97 points to 40-79.75.
There was little in the way of economic news to interest traders, with investors largely
taking their leads from last Friday's mixed jobs data, largely upbeat comments from Federal
Reserve member James Bullard and news of further unrest in Ukraine.
The weakness on US markets followed a soft day in Europe, with the main indices losing
over 1 per cent.
Airbnb the only BB and booking company may soon be worth more than all but three of America's
largest hotel chains.
The website that lets you rent people's homes and apartments is reportedly finalizing a
deal to raise about 500 million dollars more from private equity firm TPG Capital and other
investors, bringing the company's valuation to $10 billion.
Staying in a stranger's place is not only acceptable now, but for an increasing number
of people, it's the preferred way to book a vacation rental.
It helps tourists feel more like locals.
In the foreign exchange market the dollar fell modestly against most currencies as analysts
saw little immediate prospect for tighter US monetary policy.
The euro rose to $1.37-40 from $1.37-01 Friday.
The dollar slipped to 103.09 yen from 103.25 of the Japanese currency.
The euro advanced to 141.65 yen from 141.49.
The March labor report showed the US added 192,000 jobs, which was close to expectations
but not good enough to suggest the US Federal Reserve will accelerate the time-table for
raising benchmark interest rates.
Traders now wait on the Bank of Japan's decision In the commodities space gold prices rose
$18.90, to close at $13-03.50 its highest close since March 25th.
The highest price in more than a week came after data showed the US created slightly
fewer jobs than expected in March.
The data pointed to moderate improvement in the labor market, suggesting the Federal Reserve
is likely to keep interest rates near zero well into 2015.
Oil prices have fallen after rebels agreed to reopen two of the four blockaded oil export
terminals in eastern Libya, suggesting the country's blockaded supplies might come back
on the market.
West Texas Intermediate finished at $100.44 a barrel, a decline of 70 US cents from Friday's
close.
Brent North Sea crude dropped 90 US cents to settle at $ 105.82
This is Amy Anderson from OptionRally signing off The Optionrally News Team will be taking
their spring vacation from April 13th and will return on the 1st of May with an exciting
new format.
Have a great day...