Gains in U.S. stocks and a halt in the yen's rise are both supportive for the market,

Gains in U.S. stocks and a halt in the yen's rise are both supportive for the market.

The Nikkei 225 had shed more than half the gains it added in its previous rally, so it was a good time for investors to hunt for bargains.

The market was short of upward momentum owing to a dearth of strong fund inflows from overseas investors.

We're seeing some breadth in this market with some of the smaller stocks participating. We've had some big gains in some of the tech names. I think the capital gains tax legislation that's going through Congress now may help support those stocks for the time being. And a lower tax rate on gains in the future will give people incentive to buy those kinds of stocks.

It's a healthy start. The first trading prices show the market's quite enthusiastic, but not overheated.