Markets finished the session up as hopes for further US Fed stimulus seemed to overshadow worries over the jobs market.
The Dow Index (see above chart) finished in positive territory for the third consecutive day after rallying 114 points to close at 13,204 while the S&P 500 rose 9.29 points to finish at 1,399. Earlier in the session the German Benchmark Index gained 0.36 percent to finish at 6739.
On the economic front the US Labour Department released figures that showed that new claims for unemployment benefits declined last week by 1,000 to a seasonally adjusted 388,000. The National Association of Realtors survey showed that pending home sales rose 4.1 percent in March, this is its highest level in almost two years.
The euro fell against the yen overnight, trading down from highs of 107.6 to as low as 106.55 ahead of the Bank of Japan’s policy meeting. The Japanese central bank is expected to expand its asset-purchase program by at least Y5 trillion.
WTI Oil prices have finished positive, lifted by a weaker US dollar and better prospects for growth in the US. WTI Oil traded up from overnight lows of 103.82 to as high as 104.93.
Gold rallied overnight as investors continued to digest the Federal Reserve Chairman Ben Bernanke remarks stating that the Fed is prepared to do more for the U.S. economy.
INDICES
Last Traded
SPI 200 future 4399
S&P500 Index 1399
Dow Jones 13204
FTSE 100 Index 5748
COMMODITIES
Last Traded
Gold 1656.9
Oil (Nymex) 104.15
CURRENCIES
Last Traded
AUDUSD 1.0382
EURUSD 1.3210
GBPUSD 1.6175
USDJPY 81.04
Source
Bloomberg, Dow Jones News
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