OVERNIGHT

One of investor fears in Japan has been the strong yen against the dollar.  The fear centered on Japan's attempt to weaken its currency and help trade its way to sounder economic times.

Overnight the yen came off a 17-month high against the buck causing more than some angst for investors and putting in question Abernomics after officials expressed reluctance to intervene to slow the currency's appreciation, sources said. Meanwhile, the Nikkei edged higher 0.3% to trade at 15,777.13 after dropping nearly 12% during the first quarter. The WSJ reported that: "The yen has held on to its gains despite warnings from Japanese officials that the country would not tolerate excessive strength in its currency."

The U.S markets didn't helps things out, falling for the second straight day as gold, Treasuries and the yen were perceived again as safe haven places. Oil finished the end of the day slightly higher, too.The quest for a safe haven also pushed yields on government bonds lower in the U.S.,UK and Germany.

Other issues weighing on the markets is first quarter earnings reports. In the U.S. analysts are expecting S&P 500 companies’ first-quarter earnings to fall 8.5% from the year-earlier period, according to FactSet.

Don't forget investors will be pouring over the Fed minutes tomorrow.