- Associated Press - Tuesday, October 5, 2010

NEW YORK (AP) — Stocks are opening higher following gains in world markets after the central bank of Japan moved to weaken the yen.

Japanese stocks jumped 1.5 percent Tuesday 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.

In the opening minutes of trading the Dow Jones industrial average is up 94, or 0.9 percent, to 10,845.

The S&P 500 is up 11, or 1 percent, to 1,148, while the Nasdaq composite is up 26, or 1.1 percent, to 2,370.



 

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