Business Lookahead: rising megacaps, sinking yen

STORY: From why a U.S. stocks rally has some traders nervous, to another week of big rate decisions, these are the business and finance stories to watch out for in the coming days.

U.S. stocks may be on the up, but some investors worry the gains are based on too few companies.

Just five megacaps now account for a quarter of the S&P 500’s value - Apple, Amazon, Alphabet, Microsoft, and Nvidia.

Traders will watch for any signs investors are ditching those stocks, fearing it could trigger major market volatility.

Emerging-market central banks have already started cutting rates, but some coming decisions look finely balanced.

Poland is seen holding fire, though bets on a cut this year are rising.

Russia and India may also keep steady, with the latter not seen cutting until next year.

Australia’s central bank could still be heading the other way.

Markets see a 30% chance of another hike at Tuesday’s policy meeting.

That after the bank warned that the fight against inflation was far from won.

The world’s big airlines will hold their annual get-together, this time in Istanbul.

Top of the agenda is how to meet soaring demand for travel amid plane shortages and rising fuel prices.

The airlines will also discuss how to turn climate pledges into actual action.

And the tumbling yen has some betting Japan will intervene in currency markets.

A meeting of government, central bank, and regulatory officials stirred talk that something was afoot.

For now, nothing seems imminent, but traders will be keeping a close eye on comments from policymakers.