Market news on May 26: S&P 500 passed 3000
Stocks, oil and GBP gain on risk-on sentiment
Japan's sturdy machinery orders demonstrate companies are ready to spend
In November, Japanese orders for machinery tacked on to their highest value for a decade, thus demonstrating that companies might finally be responding to policymakers' vigorous efforts to get them to spend their huge cash reserves to stimulate economic surge.
The major measure of capital expenditure was rolled out just as the country’s key business lobby urged Japanese businesses to have wages lifted by 3% in approaching annual salary talks with unions, backing the authorities’ efforts to step up inflation.
The developments actually suggest premier Shinzo Abe is making a big progress in making risk-shy businesses spur spending and help him to start a virtuous cycle of consumer spending, business investment and surge in the world's number three economy.
Additionally, the Bank of Japan is braced for painting an upbeat picture of the Japanese economy next week to indicate its next policy move would be not to ramp up, but to dial back its huge monetary stimulus.
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