Investing.com - Asian-Pacific stock markets ticked higher at Monday's open, with investors keenly awaiting the reopening of mainland China markets following the week-long Lunar New Year holidays.
Meanwhile, U.S. markets will remain closed in observance of the Presidents’ Day holiday.
Ahead in the week, U.S. Federal Open Market Committee meeting minutes are set to offer crucial insights into potential future interest rate cuts.
Market watchers will also be observing comments from various Federal Reserve officials. Key data releases include the preliminary S&P Global PMIs, which are expected to indicate a slight deceleration in both manufacturing and services.
Additional releases include existing home sales, the Chicago Fed National Activity Index, and weekly jobless claims. On the corporate front, Home Depot (NYSE:HD), Walmart (NYSE:WMT), Etsy, NVIDIA (NASDAQ:NVDA), Moderna, and Berkshire Hathaway (NYSE:BRKa) are slated to publish their quarterly results.
European investors will be eagerly awaiting the European Central Bank's monetary policy meeting accounts for guidance on potential interest rate cuts.
Flash PMIs for the Eurozone, Germany, and France are anticipated to show a minor contraction in private sector activity this month.
Meanwhile, updated Q4 GDP data will likely confirm a 0.3% contraction in the German economy for Q4 2023.
The Central Bank of Turkey is projected to maintain its benchmark interest rate at 45% in February.
In China, market participants will be keen to assess the impact of the week-long Lunar New Year holidays on the country’s financial and commodity markets.
Despite expectations of additional economic support from Beijing, the People's Bank of China (PBoC) is likely to keep key interest rates unchanged.
In Japan, fresh PMI figures and the Reuters Tankan index for February will be in the spotlight, along with January’s trade balance.
In Australia, minutes from the Reserve Bank of Australia will provide further insights into policymakers’ plans for potential monetary policy easing.
Preliminary PMIs for February are also expected.
Other significant updates include monetary policy decisions in South Korea and Indonesia, Thailand's 2023 GDP release, and India's PMI updates and RBI meeting minutes.
Last Friday, Wall Street's main indexes experienced a decline after a strong inflation report stirred concerns that expected interest rate cuts from the Federal Reserve might be delayed. The S&P 500 fell 0.48%, the Dow Jones Industrial Average slid 0.37%, and the Nasdaq Composite lost 0.82%.
The week ended on a negative note for all three major indexes, breaking their five-week streak of gains. The S&P 500 fell by 0.42% over the week, while the Dow slipped 0.11%. The Nasdaq experienced the most significant loss, tumbling 1.34%.