The Nasdaq gains gave a gentle nudge higher to a market that was ready for a rebound after last week's losing spell.
The market may feel more positively on the data from next week and onwards.
When IT (information technology) issues and other large-cap issues are down, the Nikkei cannot help but suffer.
These days, just about every major tech firm is raising its profit forecasts, generating rather strong demand.
The selling will likely ease this month, but strong buying won't return for a while longer -- as long as U.S. markets are down.
A positive outlook on the economy is boosting cyclical stocks today, and sectors like real estate are being bought.
The U.S. Federal Reserve's move to cut by 50 basis points was within expectations, but U.S. investors drew some optimism from it and so should we.
What we have been seeing today and yesterday is a rather normal correction after the nearly vertical rise in high-tech shares in recent sessions. Investors will be taking refuge in other sectors until high-tech stocks find a floor.
As long as Prime Minister Mori insists on staying, a gloomy mood will linger.
There's very little good news to spur buying, but a slightly weaker yen gives support to exporters.
