APAC stocks ended the day mixed, with price action reflecting the choppy performance seen stateside. Investors grappled with uncertainty, as U.S. markets also experienced a bit of volatility recently, showing a similar tone in Asia.

In U.S. political news, President Donald Trump responded with a non-committal “We’ll see” when asked about the potential for reciprocal tariffs on Wednesday. This ambiguous statement keeps market participants on edge, unsure of how trade relations between the U.S. and its global counterparts will evolve.

Across the pond, European equity futures are pointing to a slightly positive market open. The Euro Stoxx 50 futures have gained 0.2% ahead of the cash market’s open, after the European market closed up 0.6% on Tuesday. This suggests cautious optimism, but uncertainty still looms.

In the currency markets, the overall trend is one of stability, but the Japanese Yen (JPY) stands out as the notable laggard among the major currencies. Its underperformance has captured the attention of investors, as global economic concerns continue to weigh on market sentiment.

Looking ahead, there are a number of key events to keep an eye on. The U.S. Consumer Price Index (CPI) is due to be released, giving insights into inflation trends. The OPEC Monthly Oil Market Report (MOMR) will also provide an update on oil production and pricing dynamics. Additionally, the Bank of Canada (BoC) Minutes and speeches from key Federal Reserve figures such as Chair Jerome Powell, and other notable officials like Bostic, Waller, and the Bank of England’s Greene, will offer insights into global monetary policy.

Supply announcements are also on the calendar from the UK, Germany, and the U.S., with market participants looking for updates on bond issuance and the potential for changes in fiscal policies.

On the earnings front, notable reports are expected from several big names. Vertiv, CVS, Barrick Gold, Biogen, and Reddit are just a few companies set to release results. Investors will also be watching closely as AppLovin, Robinhood, Heineken, ABN AMRO, Barratt, Redrow, Siemens Energy, Michelin, and EssilorLuxottica announce their latest earnings.

As we move through the week, all eyes will be on these upcoming economic reports, earnings, and geopolitical developments to gauge the next steps for global markets. Stay tuned for more updates.