Dollar falls vs yen, stocks advance; focus on rates outlook, earnings

NEW YORK, Oct 30 - Global stock indexes were higher with the Dow Jones industrial average up more than 1% Monday as investors await further earnings reports, while the dollar fell to a two-week low against the yen ahead of central bank meetings.

The recent surge in global interest rates has heightened pressure on the BOJ to change its bond yield control policy, as speculation mounts that the central bank could hike its existing yield cap at this week's meeting.The yen was little changed against the dollar, which earlier fell to a two-week low of 149.28 yen and was last at 149.72. The Japanese currency got a slight reprieve after having struck a one-year trough of 150.78 per dollar last week.

The Dow Jones Industrial Average rose 348 points, or 1.07%, to 32,765.59; the S&P 500 gained 30.42 points, or 0.74%, to 4,147.79; and the Nasdaq Composite added 110.28 points, or 0.87%, to 12,753.29.

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