Japan Breaks Out With Monster Rally

For the first couple of days, things were in the doldrums, and looking like the exact opposite of 2013. But that's changed in the last 24 hours or so.

The Dow registered a triple digit gain in Tuesday trading.

And after two days of losses, the Nikkei clocked in with a 1.94% gain.

Other markets are very quiet this morning. US futures are essentially unchanged. So is Germany's DAX index. Italy's FTSE MIB index is gaining 0.8% despite an ugly unemployment report.

In the US, the big event today will be the ADP jobs report, which will be a preview of Friday's jobs report.