NEW YORK — Stocks are ticking higher as Wall Street readies for a week packed with potentially market-moving news. The S&P 500 rose 0.3% in early trading Monday, coming off its best week since November. The Dow Jones Industrial Average was up 108 points, and the Nasdaq composite was up 0.4%. Tesla jumped 12%. Amazon and Apple will report their latest earnings this week along with roughly a third of the the companies in the S&P 500.
Trading was closed in Tokyo for a holiday, Showa Day. Japan has a series of holidays coming up known as the Golden Week, through Monday. “Investors will be closely monitoring the latest developments in the remarkable and volatile decline of the Japanese yen against the U.S. dollar and other major currencies,” Innes said.
“The medium-term impact of a currency intervention is not a given if the intervention is not backed by a more hawkish policy stance,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.A weak yen can be a boon for Japan's giant exporters like Toyota Motor Corp. by boosting the value of their overseas earnings when converted into yen.
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