WKYT | Lexington, Kentucky | News

Stocks open sharply higher

NEW YORK (AP) - Stocks have opened higher on Wall Street following gains in world markets after the central bank of Japan moved to weaken the yen.

In the opening minutes of trading, the Dow was up about 100 points.

Japanese stocks jumped 1.5 percent after the Bank of Japan moved to push the yen down, a move that will help big Japanese exporters like Toyota. European markets also rose.

Japan's central bank cut its key interest rate to virtually zero and is looking to buy government bonds in an effort to boost the faltering Japanese economy. Japan has been struggling with a strong currency and falling prices, and authorities there intervened in currency markets last month to weaken the yen, but the impact was short-lived.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 104344978 - wkyt.com/a?a=104344978