The address owns ETH as well as REP according to dev. I'm connected to Rinkeby .

This happens when I run the folling code:

const owner = require('./.pvt.js').ADDRESS;
const daiAddress = require('./.pvt').DAIADDRESS;
const privateKey = require('./.pvt').PVT_KEY;

const init = require('./init');

var _extraInfo = {
  "test": "test",
  "2": [ "test1", "test" ],
  "test3": ""

const createMarket = (async () => {
    const { augur, connectionInfo } = await init();
    const { Universe } = connectionInfo.ethereumNode.contracts;

        universe: Universe,
        _endTime: 1556300799,
        _feePerEthInWei: 1,
        _denominationToken: daiAddress,
        _designatedReporterAddress: owner,
        _topic: "stocks",
        _description: "hmm?",
        _extraInfo: JSON.stringify(_extraInfo),
        meta: {
            accountType: "privateKey",
            address: owner,
            signer: new Buffer.from(privateKey, 'hex'),
        onSent: function (result) { console.log("sent", result); },
        onSuccess: function (result) { console.log("success", result); },
        onFailed: function (result) { console.log("failed", result); }

Finally found the following statement hidden in a weird place in the docs:

augur.api.Market.getDenominationToken(p, callback) Returns the Ethereum contract address of the token used to denominate the specified Market. A Denomination Token is the ERC-20 Token used as the currency to trade on the Outcome of a Market. Currently, this function will always return the address of a Cash contract; however, Augur will eventually support other types of Denomination Tokens.

Changing the denomination token to the value returned by augur.api.Market.getDenominationToken solved the issue

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