Mizuho Weekly View
The S&P 500 remains near record territory. A level 15% above its 12-month moving average points to 7,200— a figure that quietly aligns with Mizuho’s year-end outlook.
TOPIX is also hovering around historic highs. Twenty percent above its 12-month average suggests 3,500, with domestic-demand stocks showing particular strength.
Attention now turns to two signals: the U.S. employment report, and the Bank of Japan’s monetary policy meeting.
Markets, for the moment, are listening.













