MORNING Bid: Tokyo reopens to S&P 500 record, yuan down

While Chinese shares did not quite know how to react to Beijing's weekend stimulus update, Wall Street extended its breakneck rally to give Tokyo something to key off when it reopens on Tuesday from a three-day weekend. While the Treasury market and U.S. government offices were closed on Monday for America's Columbus Day holiday, the S&P 500 and Dow roared to record high closes led by chip stocks and high hopes for the third-quarter earnings season that kicked off in earnest on Friday with beats by JP Morgan and Wells Fargo. Later this week, earnings from American Express, Netflix, United Airlines and Procter & Gamble will show any resilience in consumer spending, which dominates U.S. economic activity, before the release of retail sales data on Oct. 17, the main indicator for U.S. investors this week.