Quiet week for economic data, Bank earnings take the spotlight

US markets closed higher last week, with $E-mini S&P 500 Futures(MAR5) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(MAR5) (NQmain.US)$ climbing higher by 1.03% and 1.10% respectively. Finance sector led the gains, with $JPMorgan (JPM.US)$ and $Wells Fargo & Co (WFC.US)$ jumping by 5.24% and 7.08% after company earnings were released. US CPI and PPI data both performed above analyst expectations last week, and traders should stay cautious as they observe for more clues about Fed's rate cut size in November. Traders should look out for initial jobless claims and Philadelphia fed manufacturing index out this week. Traders should also keep an eye out for bank earnings, with $Citigroup (C.US)$, $MORGAN STANLEY (MSTLW.US)$, $Goldman Sachs (GS.US)$ and $Bank of America (BAC.US)$ reporting their earnings on Tuesday and Wednesday.

Asian markets closed mixed last week. $Nikkei 225 (.N225.JP)$ climbed the most by 2.72%. With sentiment among traders turning more risk-on after assurance by Deputy Governor Ryozo Himino that more rate hikes are possible if economic projections hold. This, despite Prime Minister Shigeru Ishiba voicing opposition to a rate increase. $Advantest (6857.JP)$ and $Fast Retailing (9983.JP)$ pushed the most by 11.82% and 10.73% respectively. $HSI Futures(DEC4) (HSImain.HK)$ dropped by 7.01% last week as traders are cautious of whether policy support by PBoC would support economic growth. China's meeting on Saturday failed to further excite the market as it left out key details on size of stimulus package. $FTSE Singapore Straits Time Index (.STI.SG)$ dipped by 0.43% last week, with the Big 3 banks closing marginally lower.

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