Asia Stock Market started the week a little changed with some major markets shut and inflation concerns resurfacing. U.S. futures edged higher.
Benchmarks fluctuated in Australia and South Korea, and markets are closed in Japan and China for holidays. S&P 500 and Nasdaq 100 contracts climbed. Treasury yields held above 1.6% in U.S. hours. Crude oil crept up toward $64 a barrel.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 1.35% to 14,444 as of 7:45 a.m.
Inflation risks are back in focus, though some data are skewed by last year’s pandemic shock. In his latest annual meeting, billionaire Warren Buffett warned of rising price pressures and a “buying frenzy” spurred by low-interest rates.
Stock Market Here are some key events to watch this week:
- A slew of manufacturing PMIs are due Monday, including from U.S. and China
- Fed Chair Powell speaks in an event hosted by the National Community Reinvestment Coalition The Reserve Bank of Australia monetary policy decision is due Tuesday
- The Treasury announces its quarterly refunding on Wednesday
- Chicago Fed President Charles Evans gives a virtual speech on the U.S. economy at an event hosted by Bard College; Cleveland Fed‘s Loretta Mester speaks to the Boston Economic Club on Wednesday
- Bank of England rate decision Thursday
- U.S. April employment report is released on Friday