Japan Keeps U.S. Market on Track

The bullish momentum continues in stocks today, this time aided by strong economic data from Japan.

S&P 500 futures are indicated to begin the last day of the second quarter up more than one-quarter of a percent, following a 3.5 percent advance in Tokyo. Hong Kong and Shanghai gained 1.5 percent, though Europe is weak. Bond yields are down, boosting sentiment.

Japanese industrial production rose 2 percent, much better than the 0.2 percent forecast by economists. Retail sales also increased by 0.8 percent, compared with expectation of no growth. The news follows a positive gross domestic product revision earlier this month and confirms that the world’s No. 3 economy is emerging from years of stagnation.

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