Let's take a look at the global market highlights and news for April 1st 2014.
Google finalizes stock split The Fed continuing to support the labor market
Gold closed with a loss for a fourth day in a row
European shares trade slightly higher on Monday, although lower inflation data failed to support
sentiment.
US Equities started the week on a positive note, ignoring a weaker than expected Chicago
PMI.
In a speech to a Chicago community reinvestment conference on Monday, Yellen said that the
recovery still feels like a recession to many Americans, which is why the central bank will
keep its "extraordinary" support for the economy for "some time to come."
Earlier, stocks were boosted by hopes of monetary stimulus from the European Central Bank after
euro-zone inflation fell to its lowest level since 2009.The S&P 500 rose 16 points to 18-73.35,
only about 5 points shy from the record closing high.
The biggest data of the week will come on Friday, when the U.S. employment report for
March is due.
Economists are expecting big numbers, which would help soothe investor worries about the
economy.
Asian markets ended mixed.
The Shanghai Composite fell as investors wait for clarity from Beijing on possible new stimulus
measures.
The index has lost almost 4% this year on worries over slower economic growth in China.
Attention Google investors: You're about to get twice as many shares in a change meant
to help Larry and Sergey maintain control over the tech powerhouse.
The much-awaited Google 2-for-1 stock split is finally happening on Wednesday April 2nd
when shareholders will get two shares for every one they owned.
One set of shares, called Class A, will trade under a new ticker symbol, "GOOGL."minus the
E and The other, Class C, will be listed under the company's historic ticker, "GOOG."
In the foreign exchange market the euro rose against the dollar after eurozone inflation
fell but not by enough to strengthen bets on further easing from the European Central
Bank this week.
Meanwhile, the dollar neared a three-week high against the yen.
Inflation in the euro zone fell to 0.5% on an annual basis in March from 0.7% in February,
according to a preliminary estimate out Monday.
That's the lowest reading since 2009.
Economists had expected a reading of 0.6%, according to a Reuter's survey.
The euro initially fell on the data, then recovered ground to trade at $1.37-74.
The dollar rose to 103.02 yen.
The Australian dollar climbed to 0.92-76.
For the month, the Aussie has jumped 3.9%.
The dollar index, a measure of the dollar's strength against six rivals, eased to 80.0-69.
In the commodity space gold closed with a loss for a fourth day in a row with a slew
of economic reports expected to create some volatile sessions throughout the week, but
the precious metal still scores a quarterly gain of nearly 7%.
Gold settled at $1,283.80 an ounce a fall of 10.50.
That was the lowest settlement for a most-active contract since Feb. 10th.
Oil traded mostly lower as disappointing data in Chicago-area businesses contributed to
a pullback in prices from a nearly three-week high, but hopes for stimulus measures from
China provided some support, leaving the commodity on track for a quarterly rise.
Crude-oil fell 22 cents to $101.45
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