U.S. stock index futures were flat Wednesday as investors digested a batch of corporate earnings results and following the recent rally that took major averages to their best levels in more than five years.
One of the big investment shifts of our day may be at hand - regardless of how global markets actually perform this year.
The yen pushed higher against the euro and dollar on Wednesday, extending gains from the previous day, when monetary easing from Bank of Japan fell short of some expectations for faster, more aggressive action.
Asian shares retreated from multi-month highs on Wednesday amid caution as the earnings season gathers pace, with Tokyo stocks falling to three-week closing lows.
Contrary to expectations, the BOJ's boldest steps yet to boost a flagging economy have triggered a swift change in course for a falling yen.
"I think the market is psychologically prepared to continue without Apple, and if Apple gets involved, it could give it a little bit of an adrenalin shot," one pro said.
The yen soared 1 percent against the dollar and euro on Tuesday after the Bank of Japan said its open-ended commitment to buy assets would kick in only next year.
U.S. Treasury debt prices were trading little changed as a U.S. Republican proposal for a limited rise in the debt ceiling curbed demand for safe-haven assets.
Gold rose on Tuesday as the Bank of Japan's pledge to launch an economic stimulus effort and a five-year high in U.S. equities prompted nervous investors to buy gold.
Brent crude rose above $112 a barrel on Tuesday, after Japan pledged to pump in more money to boost its economy.
The S&P 500 has only one more psychological barrier to break through as it continues its trek toward what many consider to be an inevitable new high.
European shares closed flat on Tuesday as shares of Deutsche Bank weighed heavily on Germany's DAX Index after rumors that the German financial sector regulator had asked it to simulate a split of investment banking and retail operations.
U.S. stock futures were flat Tuesday, after major averages hit multi-year highs last Friday, as investors hesitated to jump in ahead of several major earnings reports.
Asian shares end mixed on Tuesday amid optimism over the global growth outlook. But bold easing measures from the Bank of Japan failed to lift Tokyo equities and the yen rebounded from a brief sell-off as investors digested the central bank's actions.
The yen briefly fell against the dollar on Tuesday after the Bank of Japan surprised markets by adopting an open-ended commitment to buy assets, but later regained ground as the new scheme for additional purchases only comes into effect next year.
Further weakness in the yen, trading near its lowest level in more than two years against the dollar, is unlikely given the currency's recent and rapid decline, said former top currency official in Japan Professor Eisuke Sakakibara, adding that a dollar/yen rate around 90 'sufficient' for Japan's manufacturers to reap the benefits of a weakened currency.
Gold prices rose on Monday as stock markets were lifted towards two-year highs by moves to break a budget impasse in the United States, and as the euro steadied.
Asian shares ended mixed on Monday, taking a breather after hitting multi-month highs.
Brent futures lost ground on Monday after a three-day rally last week, dropping further below $112 per barrel as economic worries and concerns of oversupply offset fears of unrest in the Middle East.
A flood of earnings reports, including major technology and industrial companies, could make or break the stock market’s surprise January rally in the week ahead.