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European markets were all down overnight.The FTSE fell 64 points...

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    European markets were all down overnight.

    The FTSE fell 64 points (.81%), the DAX was down 228 points (1.24%) and the CAC fell 90 points (1.11%).

    In the US, the DOW rose 307 points (.80%), the NBI rose 26 points (.62%), the NASDAQ Composite rose 199 points (1.20%) and the Russell small cap index rose 9 points (.47%).

    Interestingly, the European markets fell and the US market rose for the same reason. Blockbuster employment data out in the US points to a delay in interest rate cuts but also to a very strong US economy.

    Th US employment data showed 303k new jobs created in March (market expectations were for 214K). This was an increase from the 270k new jobs created in February.

    US unemployment dropped to 3.8% and wage growth dropped to 4.1%.

    As a result, the US Treasury 10 year bond yield rose to 4.4%.

    Oil prices continue to rise with Brent crude now at US$91 per barrel.

    Gold price went a bit bonkers overnight and is sitting above the US$2,300 mark - currently at US$2,324.

    Bitcoin is now at US$67,612.
 
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