TOKYO (AP) โ Global stocks were mixed Tuesday and oil prices rose as investors awaited a decision from the U.S. Federal Reserve on interest rates due Wednesday.
European markets advanced while stocks mostly fell in Asia. US futures were mixed.
The Japanese yen weakened against the dollar after the Bank of Japan changed its language on government bond yields to allow 10-year bond yields to rise above 1%, calling it โa benchmark.โ โ rather than a more rigidly set cap.
But the central bank kept its long-standing benchmark interest rate at -0.1%. It is on a different path than the US Federal Reserve and other major central banks that have been adjusting their monetary policies to counter inflation.
This has led to a dramatic weakening of the Japanese yen that has raised the local currency value of Japanese exporters' overseas earnings. On Tuesday, the dollar rose to 150.40 Japanese yen from 149.10 yen.
In early European trading, France's CAC 40 added 0.1% to 6,832.45. Germany's DAX rose almost 0.1% to 14,730.61. Britain's FTSE 100 rose 0.1% to 7,334.64.
The Dow Jones Industrial Average future gained 0.3%, while the S&P 500 future rose 0.1%. On Monday, the S&P 500 rose 1.2% and the Dow Jones Industrial Average rose 1.6%. The Nasdaq composite added 1.2%.
In Asian trading, Tokyo's Nikkei 225 added 0.5% to finish at 30,858.85. Australia's S&P/ASX 200 gained 0.1% to 6,780.70. South Korea's Kospi lost 1.4% to 2,277.99. Hong Kong's Hang Seng lost 1.7% to 17,112.48, while the Shanghai Composite fell almost 0.1% to 3,018.77.
On Tuesday, the US government will release data on labor costs for July through September. Workers have been fighting for higher raises, but the Federal Reserve is concerned that wage increases that are too high could fuel more inflation. Additionally, The Conference Board will release its October consumer confidence index.
Coming Wednesday is the Federal Reserve's policy statement and an update on the number of job openings across the country. One way the Fed could accomplish the delicate balancing act of slowing the economy without creating a recession would be if the number of job openings cooled without requiring waves of layoffs.
The October jobs report, which is typically one of the most anticipated economic data of each month, will be released on Friday.
Earnings reports are also due for about 150 companies in the S&P 500. That includes Apple's latest quarterly report, on Thursday. Because it is the most valuable stock on Wall Street, it is also the most influential stock in the S&P 500.
In other trading Tuesday, benchmark U.S. crude added 64 cents to $82.95 a barrel in electronic trading on the New York Mercantile Exchange. It fell 3.8% on Monday to $82.31. Brent crude, the international standard, rose 72 cents to $87.07 a barrel.
The euro rose to $1.0641 from $1.0617.
