This week finance news 10/2/14
I'm Amy Anderson for the Optionally News TeamLet's take a look at the global market review of last week's events and highlights Google passes ExxonUS jobs disappoints And Stock markets finish the week in the greenLet's take a quick look at what is happening in the global markets now.
On Friday, the U.
stock market rebounded to muster the first positive five-day stretchafter three weeks of declines.
The Dow Jones rose 165.
55 points, to 15-794.
The S&P 500 rose 23.
59 points to 17-97.
The NASDAQ gained 68.
74 points, or 1.
7 percent,to 41-25.
It was the second straight day of gains in what's been a choppy week forthe market.
Stocks finished the week in positive territory.
But the Dow is still down almost 5% this year.
European markets finished higher.
Asian marketsended the week with gains.
The Nikkei in Japan was a standout performer, advancing by 2.
The index is on the rebound after losing more than 11% since the beginning of2014.
Google passed Exxon Mobil on Friday to becomethe second largest company in the United States by market value.
The search engine giant has a market capitalization of almost $395 billion, compared to a marketvalue of about $392 billion for Exxon.
Apple, worth about $465 billion, is the most valuablecompany in the U.
Shares of Google are on a tear, having risen 52% in the past year.
Bitcoin prices plunged early Friday after Gox said it was forced to halt withdrawalsfor customers.
Bitcoin prices fell on the news from a high of $831 to a low of $658before rebounding to $719 In the foreign exchange markets the yen continuedon its upward trend since early January, with demand growing for the currency regarded asa safe-haven investment, after it plunged last year due in part to the Bank of Japan'sdrastic monetary easing.
Analysts say global equity and foreign exchangemarkets could pick up soon, but others remain cautious about the outlook for Japanese shareprices and the yen.
The euro strengthened considerably againstthe dollar after ECB President Mario Draghi refrained from announcing any additional stimulusmeasures that tend to debase the currency.
At a meeting of the European Central Bank'sgoverning council on February 6th, Draghi noted that his colleagues would wait untilMarch before taking decision on whether to cut interest rates further as money marketsstabilize and the economy shows some signs of recovery.
The Pacific currencies have been on an upswing rebounding on positive data and the weakerUS dollar both the Aussie and kiwi ended the week in the green, while the Canadian dollarcontinued to tank on poor jobs and trade data.
On the commodities front, gold rallied a third-straightsession climb, up nearly 2 percent for the week, as investors mulled the U.
labor data'spotential influence on the Federal Reserve's monetary policy.
Gold increased 0.
5 percentto finish at $12-62.
The contract was up 1.
9 percent for the week.
Energy prices climbedon Friday as the market shrugged off a disappointing US jobs report, finding upbeat details inthe report suggesting modest economic growth.
West Texas Intermediate leaped $2.
04, to closeat $99.
Brent North Sea crude gained $2.
69, or 2.
5 per cent, to settle at $109.
Thisis Amy Anderson from OptionRally signing off.
Follow me on Facebook and watch for our newfinancial terms of the day and our weekly events news.
Have a great week.