As investors basked in the afterglow of Dow 7000, the world moved ahead.

In Tokyo, traders remained confident, but concerns of potential

Bank of Japan

intervention in the currency markets have intensified. With the greenback nearing 125 yen, many currency players anticipate that the BOJ will start to push the dollar lower.

AMR

(AMR)

, parent of

American Airlines

, continued to face the looming prospect of a strike by its pilots union. The

Department of Transportation

said such a strike would likely cost the U.S. economy $100 million to $200 million a day. Ouch.

Oil prices continue to wallow. Though the energy sector remains a favorite for many investors, commodities markets continue to push crude and distillate prices lower. Analysts said that the prospect of still more oil flowing from Iraq has crimped enthusiasm in the sector.

Micron Technology

(MU) - Get Report

said DRAM chip prices are improving. In addition, improving DRAM prices are expected to boost Micron's second-quarter earnings prospects.

On the eve of the

Sports Super Show

in Atlanta,

Nike

(NKE) - Get Report

received heavy action, including a large block trade. Some traders anticipate that the shoe maker will receive a broad boost from the sports marketing trade show.

Rally's

(RLLY)

, a chain of hamburger fast-food restaurants, reported a fourth-quarter operating profit of 1 cent a share, compared with an operating loss of $1.59 in the year-ago period.

By Dave Kansas

dkansas@thestreet.com