REFILE-GLOBAL MARKETS-US stocks gain at top of data-heavy week amid suspected yen intervention [Yahoo! Finance]
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Source: Yahoo! Finance
amid suspected intervention as investors embarked on what promises to be an action-packed week. All three major U.S. stock indexes were modestly higher at the top of a week filled with high profile earnings, crucial economic data and the U.S. Federal Reserve's monetary policy meeting. Meanwhile, the yen jumped after touching 34-year low, with traders citing heavy yen-buying intervention by Japanese banks. "It's a playbook that they've used before - nobody is commenting despite all the confirmations that it occurred," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. "It's a holiday (in Japan) as well, so it's a light volume day which points to some obvious conclusions even if its not official." This week's data releases include European inflation and U.S. labor market indicators, while the Fed is due to convene on Tuesday for its two-day meeting at which it is expected to keep its key interest rate unchanged, but strike a hawkish tone. "Inflat
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