The Nikkei is up 154 points today in Tokyo.
On Wall Street, the markets were closed Monday for Martin Luther King Jr. Day.
Wall Street reopens for business after the long holiday weekend. It's another busy week for earnings with reports from IBM, Microsoft, Procter and Gamble and Netflix.
So far, earnings season has been a mixed bag with companies including General Electric and Intel disappointing investors with their results.
Traders will also be examining the latest figures on unemployment claims and home prices for further signs of a recovery in the economy.
And investors will have a chance to react to the latest chapter in a retail saga. Jos. A. Bank has rejected a $1.6 billion takeover offer from rival Men's Wearhouse. The two men's clothing retailers have been engaged in a strange courtship for months. Jos. A. Bank made a bid for the Men's Wearhouse Inc. last year that was rejected. Men's Wearhouse then turned the tables and made a bid for Jos. A. Bank.
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