The S&P 500 was up 10 points to 4554 shortly after the open but has quickly given it all back and is trading flat on the day.
This week is a big test as the market looks to consolidate above the new record highs. The big earnings story after the close will be Facebook.
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Japan markets remain highly sensitive to fiscal policy ahead of the Feb 8 election, a former currency official told Reuters, warning that expanded tax relief could trigger renewed selling in JGBs and the yen.
Oil opened lower after a strong January rally as traders reassessed geopolitical risk. OPEC+ kept March output policy unchanged and gave no guidance beyond March, keeping supply options open amid Iran uncertainty.
Argentina buys $808M in SDRs from US to meet IMF interest payment; short-term maneuver, no public balance sheet impact yet.
Australia’s manufacturing PMI rose to a five-month high in January, with output, new orders and employment all accelerating. Export demand improved, while supply disruptions pushed input costs and selling prices higher.
Japan PM comments highlighting weak yen benefits sparked market and political backlash ahead of the Feb 8 election. Subsequent clarification stressed neutrality, while officials continue to warn against excessive FX volatility.
China's record trade surplus masks weak domestic demand & property crash. GDP slows, retail sales & investment plunge. Fitch sees 4.1% growth.
Economic and event calendar in Asia Monday, February 2, 2026 - Bank of Japan Opinions. Bank of Japan Summary incoming.
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