{"id":7433,"date":"2023-10-31T06:01:22","date_gmt":"2023-10-31T06:01:22","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/wall-st-rallies-1-yen-gains-vs-dollar-talk-of-boj-policy-tweak\/"},"modified":"2023-10-31T06:01:23","modified_gmt":"2023-10-31T06:01:23","slug":"wall-st-rallies-1-yen-gains-vs-dollar-talk-of-boj-policy-tweak","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=7433","title":{"rendered":"Wall St rallies 1%, yen gains vs dollar; talk of BOJ policy tweak"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS\/Issei Kato<\/span>
\n<\/i>\n<\/div>\n

By Caroline Valetkevitch<\/p>\n

NEW YORK (Reuters) – Global stock indexes advanced on Monday, with U.S. stocks rallying more than 1% after recent sharp declines, while the yen rose to a two-week high against the dollar after a report that the Bank of Japan is considering tweaking its yield curve control policy.<\/p>\n

Oil prices settled more than 3% lower, partly as fears eased about the Israel-Hamas war disrupting supply from the region.<\/p>\n

The report, that the BOJ is considering adjusting its yield curve control policy to allow the 10-year Japanese government bond yield to rise above 1%, pushed the yen to 148.81 per dollar, its strongest level since Oct. 17. <\/p>\n

The greenback was last down 0.4% at 149.05 yen. <\/p>\n

The BOJ kicked off its two-day monetary policy meeting Monday. The recent surge in global interest rates has heightened pressure on the BOJ to change its bond yield control policy.<\/p>\n

The U.S. Federal Reserve and Bank of England are also meeting this week. The U.S. monthly jobs report is due on Friday.<\/p>\n

“If the BOJ does not do anything tomorrow, which I think that’s what economists expect, and just wait until December, I think the dollar jumps right back versus the yen,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.<\/p>\n

The fell 0.469%, with the euro up 0.51% at $1.0618.<\/p>\n

Stock investors also are closely monitoring quarterly earnings this week, with several big U.S. companies including Caterpillar <\/span><\/span> (NYSE:) and Apple (NASDAQ:) due to report this week.<\/p>\n

The rose 511.37 points, or 1.58%, to 32,928.96, the gained 49.45 points, or 1.20%, to 4,166.82 and the added 146.47 points, or 1.16%, to 12,789.48.<\/p>\n

Wall Street stocks posted losses for last week as economic data seemed to support the “higher for longer” interest rate scenario.<\/p>\n

The pan-European index rose 0.36% and MSCI’s gauge of stocks across the globe gained 0.86%.<\/p>\n

In U.S. Treasuries, yields pared gains after the Treasury Department said it expects to borrow $76 billion less this quarter than anticipated in the third quarter on expectations of higher revenue receipts.<\/p>\n

The Treasury said it expects to borrow $776 billion in the fourth quarter, down from $852 billion the prior quarters, assuming an end of December cash balance of $750 billion, the department said in a statement.<\/p>\n

Yields on were last up 4.1 basis points at 4.886%, after reaching 4.922% earlier in the day. Last week the benchmark note hit a 16-year high of 5.021%.<\/p>\n

In energy, fell $3.23 to settle at $82.31 a barrel, while dropped $3.03 to $87.45.<\/p>\n

dropped 0.4% to $1,997.86 an ounce. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023….<\/p>\n","protected":false},"author":1,"featured_media":2162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-7433","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nWall St rallies 1%, yen gains vs dollar; talk of BOJ policy tweak | inFundPros<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. 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