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Japanese Stocks Set for Higher Open as Yen Drops: Markets Warp 

May 1, 2017

Adam Haigh, Bloomberg Markets

Stocks in Japan were set to climb as the yen weakened, with most of Asia’s other major equity markets returning from holidays to kick off their trading week.

Futures on the Nikkei 225 Stock Average climbed after U.S. shares rose, pushing the Nasdaq Composite Index to an all-time high. The yield on the 10-year Treasury note jumped as the U.S. Treasury secretary said his department is considering debt longer than 30 years. Oil dropped to a one-month low. The Australian dollar held gains ahead of the Reserve Bank of Australia’s decision on policy.

Markets were whipsawed during the U.S. session after President Donald Trump suggested raising the gas tax to fund infrastructure, and reintroduce rules that keep commercial and investment banking operations separate. Earnings remain in focus with companies including BP Plc and Apple Inc. among those due to report results Tuesday. Data Monday contributed to a mixed picture of the American economy ahead of Friday’s key monthly government report on the jobs market.

 

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