In the past two trading days alone, the Nikkei rose 3.8% to a fresh four-year, seven-month high, closing at 12833.64 Friday on record trading volume after briefly crossing the 13, 000 mark for the first time since just before Lehman Brothers collapsed.

WSJ: Japan's Mrs. Watanabe Decides It's Time to Buy Stocks

The Democratic proposal nearly squeaked by but ultimately fell short with a 51 to 49 vote with three Democrats, Kay Hagan (D-NC), Mary Landrieu (D-LA) and Mark Pryor (D-AR), crossing the aisle to vote no.

FORBES: Senate Fails To Push Through Last Minute Measures To Avoid Sequestration