It was good news for all the traders who invest regularly. After 4 days of consecutive losses, the stock market has got gain on Friday, and there has been an increase in the payrolls.
The market data claimed that Dow Jones have been up by 54.64 points and has gained 0.43% and reached at 12,638.81. The Standard & Poor’s 500 Index was up by 5.09 points or 0.38% at 1,340.19. The Nasdaq index was also up by 0.46% to reach 12.84 points.
The news of Osama bin Laden’s death has impacted the market overall. The Nikkei today sharply fell down within half an hour of opening. It hit its interday as low as 9782.66. The shares which were at their lowest today included oil explorer Inpax, Sumitomo Metal Mining, Honda Motors, Toyota Motors, Sony and JX Holdings.
After unpegging its currency from the US dollar last June, China is allowing the Yuan to rise slowly. The US has long criticized the country’s routine to depreciate its currency to preserve its products’ competitiveness on the global markets.
While the Yuan is gaining on the dollar, China still uses a variety of tools to keep its currency value down, among them reserve requirement ratios, open market operations and dabbling in interest rates. The US is now urging the country to let it currency gain to a higher extend.
At the heels of the European Central Bank’s (ECB) policy meeting on Thursday, the euro overpowered dollar to $1.50. As per reports, deciphering the weak monetary policy adopted by the Federal Reserve has pulled the value of dollar to its three-year- low.
Apparently, the dollar moved down by 0.4% to $1.4872 against the euro on Monday. Moreover, market analysts have claimed that weak stance of dollar against euro will continue as the ECB is expected to revise its policy either in June or July in order to address the global concern of inflation.
The renowned Farm and construction machinery firm, Terex Corp, has claimed that its German unit has decided to make a voluntary cash public tender offer of 41.75 Euros per share to buy Germany's Demag Cranes AG. The offer is 15% more than the closing price of Demag on April 29 and demands acceptance from around 51% of Demag Cranes shareholders.
On Friday, it was a similar story all across the world. Major Asian markets fell and it has been a concern now. In Sydney, the Australian dollar lowered the corporate earnings. The weak earnings from Samsung in Seoul made the stock market unstable.
Australia’s S&P/ASX 200 dropped by 1% to close at 4,823.20.