Market Update
U.S Market
- Stocks higher last week on Easter Holiday
- Job Report was disappointing
- Stocks moved higher today after Fed’s minutes
- Members of FOM: appropriate to raise interest rate at June meeting
- Central bank doesn’t need a rise in core inflation before normalizing policy
- Dow up 0.2%, S&P up 0.3% and Nasdaq up 0.8%
- U.S crude oil dropped a lot
Foreign Market
- Europe’s stimulus package has caused borrowing cost to decrease significantly
- Several countries to issue 5- yr bond with negative yield
- Hong Kong stock hit seven year high
Business
- FedEx announced to purchase TNT Express for 4.4 billion Euro in cash
- Royal Dutch Shell to purchase BG Group for 69.6 billion in cash and share.(horizontal merger)