Asia-Pacific stocks staged a broad rebound today, driven by gains in the tech sector stateside and optimism over a ceasefire agreement in the Middle East. The S&P 500 and Nasdaq Composite notched fresh record highs, with investors cheering the resurgence of tech stocks after recent declines. Meanwhile, Chinese traders returned from the National Day Golden Week holiday, providing a boost to regional markets.

In the Middle East, there was renewed optimism over a ceasefire agreement between Israel and Hamas, with details of the deal expected to be announced later today. According to Al Arabiya, the ceasefire will come into effect at 12:00 noon local time (5:00 EDT). This development has helped alleviate concerns over the ongoing conflict in the region and provided a tailwind for Asian markets.

Separately, the US Federal Open Market Committee (FOMC) released minutes from its recent meeting, highlighting a cautious approach to future policy and a majority of participants emphasizing upside risk to their outlooks for inflation. While there was no notable reaction in markets on the release, the comments underscore the ongoing debate among central bankers over the path forward for monetary policy.

Looking ahead, investors will eye key data releases from Germany, Atlanta Fed GDP, New Zealand Manufacturing PMI, and earnings reports from Delta Air and PepsiCo. In addition, speeches by prominent central bankers, including Bank of England’s Andrew Haldane, European Central Bank’s Philip Lane, Bank of Canada’s Stephen Poloz, Federal Reserve Chair Jerome Powell, and others will be closely watched for any insights into their respective policy stances.

Meanwhile, China’s government announced export controls on rare earth materials, a move that could have implications for the global supply chain and potentially impact trade tensions between Beijing and Washington.

Overall, today’s rebound in Asia-Pacific stocks suggests investors are shrugging off recent concerns over the pandemic and geopolitical risks, at least for now. However, with ongoing debates around monetary policy and geopolitical tensions still simmering, caution may be warranted in the near term.