Asian stocks drifted at the open Monday as investors look for clues on the economic recovery in a big earnings week and a Federal Reserve meeting.
Benchmarks fluctuated in Japan and Australia, and edged higher in South Korea. U.S. futures were little changed after most major groups in the S&P 500 advanced Friday.
The dollar maintained losses against major peers in early trading. Oil and gold were little changed.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, climbed 0.14% to 14,358 as of 7 a.m.
Here are some key global events to watch this week:
- Focus turns to the Fed meeting, with policymakers reiterating that they are in no hurry to withdraw support even as the U.S. economy rebounds.
- Bank of Japan rate decision and Governor Haruhiko Kuroda briefing Tuesday
- Joe Biden makes his first address as president to a joint session of Congress Wednesday
- U.S. GDP is forecast to show robust 6% growth in the first quarter, bolstered by government stimulus Thursday
- A slew of earnings from megacaps including Tesla Inc., Facebook Inc. and Apple Inc. will be parsed as investors look for clues on how companies are faring in the recovery.