Earnings season continues to dominate spotlight
Global shares rose Monday, as the yen dipped in the midst of political uncertainty after Japan’s ruling party lost its majority in Parliament’s lower house in weekend elections.
The weak yen is a boon for Japan’s giant exporters like Toyota Motor Corp., whose stock gained 4.1% in Tokyo trading. Nintendo Co. gained 2.0%, while Sony Corp. rose nearly 2.0%. Amid political uncertainty, the Bank of Japan is unlikely to take action any time soon on interest rates. The central bank has a monetary policy meeting later this week.
Company earnings reports, which have been mostly solid, continue to be a key focus for investors. More than a third of the companies in the S&P 500 index have reported their latest quarterly financial results. Most of the results have beat analysts’ forecasts. Companies from around the world are scheduled to report earnings in coming weeks.
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