Most of Europe remains off, and US futures won’t be trading for a bit, but the big story is Japan, which had another HUGE day.
The Nikkei rallied 1.49%, on top of another similar gain from the day before.
The index has just been on a sick tear the last couple of weeks.
The Japanese yen continues to weaken on expectations that the incoming Prime Minister Shinzo Abe will force the Bank of Japan to pursue a very easy monetary policy.
BOJ minutes which came out last night also suggested that several BOJ members favoured more easing..
The US session today will be dominated by Fiscal Cliff suspense (the news is that Obama is leaving Hawaii today to resume negotiations) and some economic data, including Case-Shiller and the Richmond Fed.