US stocks showed a strong performance yesterday. The market seems to be optimistic about the US debt ceiling issue, which raised concerns about default. Both President Biden and McCarthy have shown confidence in avoiding default. President Biden is scheduled to hold a press conference on the 21st. Meanwhile, Japanese stocks continue to perform well, with the Nikkei Average reaching the 30,000 yen level following yesterday’s gains. The continued accommodative stance under the Ueda Bank of Japan regime, along with a weaker yen, seems to provide a sense of reassurance to the stock market.
The Japan-US summit has already concluded with no significant changes, and the US dollar continues to steadily strengthen. Today, we anticipate movement with the Philadelphia Fed Manufacturing Index.
